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Category Archives: United States
Can I deduct mileage both ways on a sales call?
tedset2007 asked: When I make a sales call from my home office to a clients place of buisness, am I able to deduct the mileage to there and back to my home?Megan
Posted in United States
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If I sale my home in central america can it be treated as my primary residence on my U.S. tax returns?
califdreaming asked: I am familiar with the bona fide residence test and I think my husband would qualify as he has lived here for 5 years and is in the”process” of getting residency. We however have no foreign income but … Continue reading
Can I deduct real estate taxes in NY from more than one home on my federal tax return?
Albert T asked: I bought a new house and havent sold the first one yet? Can i deduct mortgage interest from both? What about real estate taxes? Both houses are in NY city.Kansieo.com
Posted in United States
Tagged Federal Tax Return, Houses, Mortgage Interest, Real Estate Taxes
5 Comments
Is the profit on the sale of a home that is in a “Trust” taxable?
Eugene D asked: My deceased mother-in-law’s house which is in a “complex trust” dated back to 1992 is to be sold. Is there taxes to be paid (capital gains) on the sale? Thanks!Caffeinated Content
I have a IRS lien filed against my Real Estate. How long do I have before the property is placed for auction?
FineArt1983 asked: A lien was recently [July, 2007] placed by the IRS against a piece of Real Estate in New York that is owned by an Estate that I am the Executor of. How long do I have from the … Continue reading
Posted in United States
Tagged Estate Executor, Irs Lien, Property Auction, Property For Sale, Real Estate, Redemption Period, Three Months
6 Comments
Can I deduct losses on a real estate business if I made no sales?
Jerry K asked: I sale real estate on my own and I did not make a sale this year. Can I use the expenses to off set my personal income from a regular job?Caffeinated Content
Posted in United States
Tagged Business Sales, Estate Business, Estate Sales, Job, Losses, Personal Income, Real Estate
1 Comment
When you assign a real estate sales contract at a higher price do you have to pay tax on the proceeds?
curious girl19 asked: lets say you enter an assignable contract on a home at 100 k, assign it to someone at 200 k, and the difference is cut back to you at closing, do you have to pay tax on … Continue reading
How/where to deduct real estate training fees on taxes?
DJP asked: I plan on getting a real estate license for the education and qualification when managing my private real estate investment career. Where/how do I deduct these costs on my taxes? Eventually I’ll set up a real estate company … Continue reading
What are the capital gains taxes on the sale/purchase of a summer home?
mainlandd asked: I am considering selling a beach house and buying another beach house. I would realize about a $500K capital gain on the house I sell. If I buy another beach house with the proceeds of the sale, will … Continue reading
Posted in United States
Tagged Beach House, Capital Gain Taxes, Capital Gains Taxes, Money, Proceeds, Selling House
4 Comments