Though most home-sale profit is now tax-free, there are still steps you can take to maximize the tax benefits of selling your home. Learn how to figure your gain, factoring in your cost basis, home improvements and more.
When prices climb, real assets such as real estate often rise to keep up. Land values are key. The underlying property value is paramount to any REIT’s success. If land values fall, the sector may see demand soften. Tips for investing in the real estate sector Investors need to watch ...
It’s happened to many of us at some point—you may be walking along a street and look down. Lo and behold, there’s a $20 bill in your path. Or maybe it’s a silver bracelet. Either way, it’s found property. The tax ramifications of finding a $20 bill
Whenselling stocksor other assets in your taxable investment accounts, remember to consider potential tax liabilities. With tax rates on long-term gains likely being more favorable than short-term gains, monitoring how long you’ve held a position in an asset could be beneficial to lowering your...
Plan for Selling Investment Property Has Major Tax ImplicationsJacobs, Harvey S
When selling rental property, clients will face a capital gains tax (the rate depends on their taxable income and filing status), and a depreciation recapture tax rate that is capped at 25%. Clients with a higher income may also be subject tonet investment income tax (NIIT). ...
Life changes: Major life changes like getting married, having a child, or selling your house can impact your taxes in a big way. When e-filing your taxes using TaxAct®, we’ll ask you basic information about your life, including marital status, children, and significant events from the...
When you're doing taxes online, it's critical to take the time to find the right program well suited to your needs based on your specific tax situation. Don't just choose the cheapest program — choose the one that offers the features you need to do your taxes correctly. Cost compariso...
Tax-loss harvesting capitalizes on the balance between capital losses and capital gains to minimize an investor's tax burden. A capital gain is the profit that an investor makes when selling an asset. It's the difference between thecost basisor what you paid for an investment and the sale ...
Finding out when a security was purchased and at what price can be a nightmare if you have lost the original confirmation statement or other records from that time. This is especially troublesome if you need to determine exactly how much was gained or lost when selling a stock, so be sure...