MLM Passive Income

How does Capital Gains Tax work? I am a student with no income other than investing, and I am curious how capital gains taxes work. Say I started the year with 10,000 invested, and through many trades, within that year, I end up with 15,000 in my account. Am I charged the capital tax on every single trade, or is it just charged on the final profit amount of $5,000? Also, If i have no income other than investing, and my profit falls under the federal exempt tax status, do I still have to pay capital gains tax? One more thing, what is the name of the form to fill out capital gains taxes? Thanks! Does my broker keep track of all my trades? I have no idea how many i have made, however I am up 28%! So there is a capital gains tax for state on top of the federal?

Whats so bad about having capital gains tax rates lower than income tax rates? People are taking risks with their money and that investment helps the economy. Most of the money I invest I have already paid income tax on anyway. So whats wrong with having a lower capital tax rate? Anyone can invest and take advantage of these rates. I am not rich. Why do Liberals like to pretend that only rich people are subject to capital gains taxes?

How much will I be taxed for Capital Gains Tax (TX) for a Condo I sold? I bought a condo for $36K and sold it around the same price with sales cost (documentation and all) which cost me about $200.... I want to know how much will I be taxed based on Capital Tax Gains in the state of Texas? Any resource would be helpful! Thanks!

What will happen to housing prices if the government undoes the 1997 change to capital gains tax? So I've read that in 1997 the government changed how they taxed capital gains from home sales. Basically, couples filing jointly could keep gains up to $500,000 tax free ($250,000 for the single folks or couples filing separately). How bad will housing prices be hit if the government reduces the amount to something like $250,000 for couples filing jointly or eliminates the tax break all together?

How is capital gains tax calculated when the house is sold in foreclosure? I've two rental condos foreclosing in a few months. One of them should have a capital gains exemption because I used to live in it and moved out of it in July of 2006. My questions: 1) what is the percentage used in calculating capital gains tax on rental homes foreclosed? 2) I might have to file for bankruptcy also in the next few month. Will a bankruptcy discharge cancel the capital gains tax? 3) What records do I need to give to the IRS next year? Thanks so much.

How do you estimate what your capital gains tax would be on investment property? This is a difficult situation. We own a piece of undeveloped land in FL and are considering selling to put a down payment on a house in CA. We have owned it for about 14 years. My husband is military and a FL resident. We currently are stationed in CA and I am a CA resident. The land is a joint tenancy. FL doesn't have a capital gains tax, but CA does. So I am guessing that we have to split the gain 50/50 and have 50% taxed by the state of CA. We are trying to use an online capital gains tax calculator to figure how much we will have to pay. We had an assesment to pave the street. Would that be an improvement cost? Also, the state bought a small portion to widen a highway. Would the money they paid us be deducted from the basis? How do you come up with the depreciation? My property value has went up (according to the county assessment). How do you figure out what the tax rate is on the gain? I know this is tough one, but I appreciate all the help.

Is capital gains tax is to be combined with regular tax payment on form ITR 1 or is it to be seperately filed? I have already paid the advance tax of capital gains after the sale of my plot (about Rs 3 lakhs) .I will be processing the regular fling of incometax for my interest income in May 09 and I will use return form ITR1.Is the capital gains tax Now worked out correctly referring the index etc has to be filed in the same return form or in a separate form ?

What are the Capital Gains Tax implications associated with occupying a previously rented Australian property? If I occupy my rental property in February 2012 (that I have owned since 2000) for the purposes of converting it into a furnished short term rental, are there any Capital Gains Tax implications? I will be maintaining my current home as my main residence and will not change my address on my tax return. The rental property will be available for rental again in the 2012/2013 financial year. In the event that it does not attract tenants are there any Capital Gains Tax implications?

How much capital gains tax do Canadians have to pay if selling foreign property? I own property in Belize and am thinking of selling it. Does anybody know approximently how much capital gains tax would be (percentage wise) My place of residence is in Canada. Thank you kindly for your assistance.

How does capital gains tax work on rental home sales? What is the percent in FL state? we own a duplex in Fl.we lived in one half for 6 years then turned both sides into rentals. We now need to sell to stave off bankruptcy. How do we calculate the capital gains tax?

How does capital gains tax work on a home lived in less than 2 years? I Plan to sell a home before it has been lived in less than 2 years. Anticipated profit is $50K. How does capital gains tax apply to this?

What percent of capital gains tax would I have to pay if I day traded the qqq,spy and spx? What percent of capital gains tax would I have to pay if I day traded the qqq,spy and spx? When would I have to pay the capital gains tax?

How do Capital gains and ordinary income tax works? Lets say someone earns a $250,000+ annual salary so that puts them in the 35% ordinary income tax rate. Lets say that same person is an investor in the stock market. So if that person holds their stocks long term 1+ years they pay a long term capital gains tax of 15% (15% capital gains tax rate for people paying 25% or more of taxes in ordinary income) So does it mean that this person overall pays 50% for taxes? Or am i wrong?

How much capital gains tax do you have to pay when selling shares? for example. Let's say i held shares for 3 years and at the end of 3 years i sold them for their current value of £80,000. And the cost that I bought then am in total was £8,000. what would be the capital gains on that calculation please? and if i was paying 20% tax already for my work earnings per year.

How much Capital Gains Tax do you pay if your a registered Property Developer? 1) How much capital gains tax do you pay if you sell your second home 2)How much would it be if I was a registered property developer? - Any other hidden costs worth knowing about?

Capital Gains Tax and BRIEFLY using part of your home exclusively for business purposes? If I used one room (25% by area) of my home exclusively for business purposes, but only for 1 year out of 10 years home ownership, what proportion of any capital gains would qualify for Private Residence Relief if I sell the property? Put another way, does the length of time that I use part of my home exclusively for business purposes have any bearing on the amount of capital gains tax I am liable for when I sell?

Is the capital gains tax the same rate for all tax brackets? I know the capital gains rate "for the rich" will go up if the Bush tax cuts expire. Are there tax brackets for capital gains like for earned income, or will it go up for the rest of us too?

What do you think of a Progressive Capital Gains Tax to raise revenue and lower the deficit? It got me thinking when Mitt Romney was talking about his 15% tax rate from his capital gains. In fact, we might even be able to lower the capital gains for the lower bracket in order to increase investments from ordinary people. Arthur - You do know that instead of renting an apartment, you could get yourself a mortgage and buy a home right? Mortgages are tax deductible and it'll allow you to build up your equity as you make your payments.

How can we reduce the capital gains tax on an inheritance without receipts? We are the beneficiary's of a home sale left in Trust. The home was purchased for only $35,000 and sold for $146,500. There are no receipts for any of the improvements, but there are 3, very obvious improvements made: the old asbestos siding was removed and vinyl installed, a 2nd full bath was added and the garage was completely rebuilt. Is there any way to obtain an estimated cost of these improvements and use them as deductions against the capital gains tax without showing receipts?

What is the capital gains tax for raw land in Oregon? I have held this this piece of unimproved land for 5 years and am selling it. How much is the state capital gains tax?

How much Capital Gains Tax do Foreign investors pay? Hi, I'm an Australian citizen living in Australia and have been following the US stock market for years. With significant amounts of money to invest, I was just curious what is the capital gains tax rate for me when I sell my US shares after a year (so assume i'm a long term investor). Is it a flat rate? Does it count as income? Is there some sort of tax discount?

Any way to avoid capital gains tax from the sale of one biz and the purchase of another in CA? From what I understand, you do not have to pay capital gains tax from the sale of a home if you purchase another home. Is there a similar law for the sale of a business and the purchase of another business?

Do I have to pay capital gains tax for gifts of my ESPP shares? I am participating in my company's ESPP. I would like to give my family members a gift of shares. It would be considered a disqualifying disposition since it has been less than one year since the offering period. I know that I will have to pay income tax on the discount amount but will I also have to pay capital gains tax if I gift the shares to my family members?

How do you calculate capital gains tax on a house sold? If I sell the house I own w/ no mortgage @465,000, its small(1284 sq.')3bdrms,1 bath, currently its a rental. I inherited it 10 years ago though a living trust. How high is a capital gains tax in that situation? I would put the proceeds on another property right away. SJCNLA

Are my recent dividend reinvestments taxed at the short term or long term capital gains tax rate? I have a regular brokerage account (not tax deferred). I bought a mutual fund a number of years ago, and over the years the dividends have been reinvested in the same fund. This year, I was advised to rebalance my portfolio, so I sold all of this mutual fund. Unfortunately, the last dividend reinvestments were within the last year. So the question is, does this reinvestment cause my entire mutual fund sale to be taxed at the long-term or the short-term capital gains tax rate? Or is the recent reinvestment portion short term and everything else long term? If so, what do I use for the tax basis for all of that? It's not the dividends I am asking about. It is the reinvestments of them. When I sold the mutual fund, all of the fund, including the reinvestments got sold. The question is, are each of the small little reinvestments taxed separately, or in one big lump?

What is the tax on long term capital gains ? If a resident of India holds shares that are traded in USA, and by selling these shares, long term capital gain may be made. In this case is there any tax applicable in India(since the money earned may be transferred back to india)? If so what is the current long term capital gains tax?

How do I avoid capital gains tax on a condo I own in Florida? I own and lived in condo for 18 mos., then rented it out. I am considering selling it, but do not want to have to pay all that capital gains tax. Suggestions please.

What % of Capital Gains tax will I have to pay? My husband and I just bought our home in February and now we want to sell it. We bought the home for $120,000 and owe $113,000. We have added a $5000 privacy fence and a $2000 storage building not to mention the cosmetic repairs we've made to the house. We don't care to make anything off the house, we just want to sell it for what we have in it, maybe a little less. (It appraised for $137,000 before we did all of this work to it. (I don't know if that matters.) We live just outside of Myrtle Beach and we hate it here, we just want out. My question is, If we stay in the house for one year, what percentage of Capital Gains will we have to pay? We make under $40,000 a year. Will we have to pay tax on anything over $120,000 (our purchase price) or $127,000 (what we will actually have in it.)? We are willing to stay here until we've lived here a full year, but no longer. Thanks for all the serious answers. Judy, thanks so much! I didn't realize I could deduct the realtor's commission! Thanks!

What is the capital gains tax to be paid for a residential land purchased in 2005? I have a vacant residential plot in a vacant gated community located in Bangalore. What is the capital gains tax I should pay and what should I do incase I want to avoid this tax

calculation of capital gains tax for property purchased during 1988? I havfe purchased a residential plot in coimbatore during 1988 and constructed a house spending around Rs. 2 lakhs. The cost of land is Rs. 24500. Now I am planning sell the land and buildings for Rs. 40 lakhs.I am not having any bills for amount spend for thew house. How to calculate capital gains tax for this transaction.

The difference between my personal tax bracket and capital gains taxes? I'm investing in the stock market and wondered what is the difference between the rate I get taxed for my personal income (from my 9 to 5) and the rate for capital gains? Also, what event triggers the capital gains tax rate to kick in? . .

How much will we have to pay for capital gains tax in GA if we sell after owning the home for 27 months? My husband and I have owned our current (Georgia) home for about 27 months (as of Oct 07). If we sell this home and don't want to buy another immediately, how much would we have to pay to capital gains tax (federally and/or to the state)? How long would we have to buy another home before we would have to pay this tax amount? Any other info that might be helpful? Thanks in advance for any advice!

How to pay online the short term capital gains tax ? What form to be filled? I want to pay short term capital gains tax on account of gains in shares purchased / sold Please guide me, sir. Whether Securities Transaction Tax and Short Term Capital Gains Tax is one and the same?

Do I have to pay capital gains tax if I sell a house to my brother that was gifted to me by my father? My dad gave me a house last year. And I took a motgage on it for $250,000. Now my brother wants to buy it for more than that, do I have to pay capital gains tax?

How to fix a problem regarding capital gains tax and principle residence.? Person A owns two homes, one of which she lives in full time. The non-residential home is in a different location two hundred miles away. She gives the non residential home to niece. Come tax time Person A declares the non residential home as her principle residence even though she does not live in it, obviously to avoid paying the capital gains tax. How can this situation be remedied? Person A is an 86 year old lady who has in some respects been taken advantage of by her niece and the niece's boyfriend.

How can I minimise the impact of Capital Gains Tax? How can I minimise the impact of Capital Gains Tax on the sale of a UK rental property? I have had the property for 8 years so is there any taper relief? I am 65 in 1 year's time, I am resident in Spain for tax purposes but am liable for tax on rent of the UK property. Is there any relevance to the timing of the property sale due to any changes in the last budget and also my age?

Do I have to pay a capital gains tax on a profit I made from selling my car? I know that there is a capital gains tax on stocks, but what about financial gains made from other investments?

How much will i have to pay in capital gains tax on company shares? I'm in a company share-save scheme which finishes this year. If i convert my savings to shares they should be worth over 10k, will i be liable to capital gains tax if i sell them? Thanks in advance.

How much money from investments can you make before paying capital gains tax? For example, I make an investment (stocks, gold, etc.) and end up only making 5 dollars, do I need to pay capital gains (which in my case would be 10% on short term investments)? How much would I need to make to file for capital gains tax?

How much would I pay in capital gains tax when selling shares of a mutual fund? I'm trying to figure out how much in capital gains tax I would have to pay if I sell shares of a mutual fund. The mutual fund currently has $36,000 and the cost basis is $29,500. I'd like to sell $10,000 worth of shares. Does anyone know how to figure this out? Thanks!

Will there be a capital gains tax on the sale of your home inthe new health care reform bill? I have heard that there will be a 3.8% capital gains tax on the sale of your home under the new health care reform bill effective 2013. Is that correct?

What is a good strategy for selling a small business without paying capital gains tax? I have an automotive repair shop and I would like to defer paying capital gains tax by rolling the proceeds of the sale of the business into another investment. I do not see the point of paying capital gains tax on the sale when I will simply take the money and reinvest it in another business. Can I do this even if the money does not go into a similar business? Ideally, I'd like to invest the money in a mutual fund and take out maybe 10% per year to help with living expenses.

Does anyone know about a capital gains tax holiday in 2008 for the 10-15% income tax bracket? If I sell my rental property this year as opposed to next year will I have to pay capital gains? I am in the 10-15% income tax bracket. Will the capital gains be calculated as income for the year I sell it and possibly send me into the next bracket? Does this have to be a long term sale to qualify?

What kind of ignoramous thinks that an increase in capital gains tax only affects the rich? I mean seriously, are you people drinking the leftist Kool-Aid that much? Anyone can own stock or sell investment property. If you sell your house withing a certain time period of owning it, you are subject to capital gains tax. You think only rich people own homes?? You leftists are so completely gone it's sad.

If all my income comes from capital gains, do I have to pay capital gains tax and federal income tax? How does money made solely off investments usually work. If I made $10,000 in capital gains each year, would I have pay a capital gains tax in addition to federal income tax. Is that what investors have to do, get taxed twice?

What are the current capital gains tax rate when flipping a house? Does anyone know what the current capital gains tax rate is when trying to flip a house? Is the tax rate dependent on the profit made on the sale? Say I "flip" a house this fall....do I have to declare the profit on my taxes come the end of the year? Any and all advice is much appreciated.

How do you determine date of residency in terms of capital gains tax? I lived in my house for seven years. I moved in with someone else, gradually, over several months, while I was fixing up my house to put it on the market to rent. I changed the address on my driver's license at some point during that time and filed a change of address form at some point and eventually put the house up for rent. Now I'm thinking about selling the house. I know that to avoid capital gains tax on a property you have to have lived there for two out of the past five years, but how do I determine when that was? Do I go by tax return, date I rented it out, driver's license, change of address form...or what?

How much Capital Gains Tax Will I need to pay? I purchased a secondary home for $85,000 7 years ago and recently sold it for $215,000. Before selling it I would declare the rent from the house on my income tax returns, which total $94,000. How much capital gains tax will I have to pay and will this affect my income tax?

Do I have to pay capital gains tax on $75k home sale profit if owned < 2 years? I'm selling my house for $75,000 profit. It's my primary residence, but I've only owned it for 14 months. I'm not moving b/c of any special circumstances (no job change, no health reasons, no life changes, etc). I'm planning on using all the proceeds towards buying a new home. Do I still have to pay a capital gains tax?

Where will I have to pay capital gains tax on inheritance of half of my late father's house? My Father, whose property is in the UK, passed away this month and my brother and I are joint inheritors of his property, which is worth approximately £180.000. I am tax exempt in the UK because I reside in Spain. Therefore, which country do I pay capital gains tax to?

What is the Short term Capital Gains tax rate in Wisconsin? Looking into buying and selling a home for profit (flipping). Since selling within 2 yrs, I would need to pay short term capital gains. What is that tax rate in Wisconsin?

Why are liberals so against having a different tax rate for long term capital gains? Short term capital gains are taxed as regular income. Why do liberals want to punish investment in America that all of us benefit from? Why do they think the middle class get no benefits from a lower capital gains tax? G: so you are saying that middle class people dont have 401k's etc?

What do you think of Obama raising the capital gains tax? Senator Obama is in favor of raising the capital gains tax to 28%.

How does the capital gains tax affect my realized gains? Hi there, Assuming I stay positive until tax day, how much will I be taxed? Is it possible to NOT be taxed if I am in the lowest tax bracket - I make less than $8000 of earned income a year. Any information regarding capital gains as an individual in the lowest tax bracket would be highly appreciated! Thank you, Nolde

What's best way to avoid Capital Gains Tax on sale of commercial building? We are selling a commercial building and will make a profit. The profit will only be about $100k, does this fall under the $250k/$500k tax exemption, or is that just for home sales? Can we avoid capital gains tax by reinvesting it in a second home we rent out? What is the time limit of renting before we can live in it as a primary residence?

How can I minimise capital gains tax on a selling property? My main residence is valued at £350K (no mortgage 1977), my second property is valued at £100K and has been rented out for 9 years (purchased at £30K 1998). I am looking to move from main residence and also sell second property but in no hurry and would consider moving into second residence initially. Which way would be best to minimise capital gains tax. We are a couple with both properties in both names. UK only please.

what date is the capital gains tax based on for a farm sale resulting from a life estate? In 1987 Mother placed a parcel of land in a life estate. She died in 2010. If the property is sold what appraisal date will be used for capital gains tax?

How to avoid long term capital gains tax? I, my sister and my mom are legal heirs of my late fathers property worth 75 lakhs in chennai. If we sell it do all 3 of us have to invest 25 lakhs each in a new property to avoid tax? can we buy 2 flats worth 37.5 lakhs each for myself and my sister and use my mom as joint property owner in both the flats to avoid paying capital gains tax?

does capital gains tax apply to commercial property? If I decided to sell some commercial property that I've owned for 20 years would I have to pay capital gains tax or just income tax on the proffit?

Do I have to pay a Capital Gains Real Estate Tax? I live in Kentucky and bought two adjoining pieces of property three years ago. I am going to sell one piece on a land contract for a monthly payment over 15 years. I am selling the second piece to a different buyer for cash. Only the second piece has a house. I have never owned or sold a property before. Do I have to pay the capital gains tax on the profit of the second piece? What about the first?

How much of capital gains tax should my father have to pay? My father sold a apartment and estimated the capita gains to be around 3 lakhs and considering the tax of 20% the tax was calculated to be 60,000. I am now taking a loan of 4 lakhs for my higher studies and going abrorad for my studies. Will my father be exempt from capital gains tax if I use this capital gain for my higher studies? Thank you

Why is the Liberal media loud about the gas tax holiday, and quiet about the capital gains tax? I don't understand why people are making a big deal about a three month gas tax holiday, that will have minimal effects at worst. Meanwhile Obama wants to raise capital gains taxes to 28%. THIS is a way bigger issue, but once again the media will do whatever it takes to give Obama the nomination.

Is Capital Gains tax avoidable in Turkey before construction commences? Capital Gains Tax is applicable for the first 4 years after purchasing property in Turkey. Is it different for buying land? Where could i find this info from a governments source?

how can I diversify my stock portfolio without paying capital gains tax? I would like to use the Warren Buffet approach with buying and honding for a long time, but if it gets time to diversify, is there a tax law that allows me to sell duds and buy promising stock without having to play capital gains tax?

When should I pay capital gains tax from selling stocks? Let's say I have short term capital gains of $5,000 from selling stock A and long term capital gains of $10,000 from selling stock B. Both stocks were sold on 06/10/2006. To avoid any penalty should I pay federal income tax for those gains right away? Or I can wait until April 15, 2007?

California capital gains tax on real estate? Is it true for a married couple that we can realize a profit of up to $500,000 without being taxed with the "capital gains tax"? We plan to put the money back into another house (and we're not even close to making the $500,000 anyway,). Thanks for any help you can give.

How much Capital Gains Tax will I have to pay? If I bought a bundle of stocks for $10,000.00 a year ago, and then sell the stocks after one year for $500,000.00, giving me a profit of $490,000.00, then how much Capital Gains Tax would I end up paying on that sum amount?

how much capital gains tax to be paid when a second property is sold? on a second property worth say £100000 pounds how much capital gains tax would be due if the house was sold. where is the best place to get this information.

How long do i have to live in my principle dwelling to avoid paying capital gains tax? This is my only house and I have been told that if i live in it for a certain period before renting it out or selling it I can avoid capital gains tax. Is this true?

In California, will someone have to pay capital gains tax on the sale of a probate inheritance property? The court appraised the prop for $400k, but the realtor comped the prop for $850K, will the inheritants have to pay capital gains tax on the difference if it sells for more than the $400k?

How to ensure "capital" tax (instead of income) treatment for investment gains? I have a full-time job unrelated to the securities industry and I use a discount broker to manage my investments and would like to benefit from lower capital gains tax rates for my investment profits. My goal is to hold about 50-70 securities (ETFs, equities) in my portfolio at any given time and I anticipate holding each security for at least 6 months before disposing/selling it. I'd like to add to my positions gradually via dollar-cost averaging and use covered calls to reduce the cost basis. My intent would be to execute about 10-20 buy transactions per month (often I'd be adding to existing positions) and perhaps about 5 sell transactions per month. Would using such a strategy put me at any risk for being flagged an active trader and subject to having gains taxed as income instead of the more favorable capital gains (w/ 50% inclusion) rate? Furthermore, does the use of 15-20% margin significantly affect one's susceptibility to being flagged as an active trader?

I'm flipping a house, is there any way to reduce Capital Gains tax? I'm flipping a house. I own a primary rresidence. I stand to make 60K on the sale, not including repairs, settlements, etc. Can I deduct repairs from the profit of the house? Is there any way to reduce the capital gains tax?

How do I calculate how much capital gains tax I will have to pay both from gains and losses? If I buy stock A and sell at a $2000.00 loss, then buy stock B and sell at a $5000.00 gain. Does that mean I will only have to pay capital gains tax on $3000.00 that I gained?

How much capital gains tax do i pay on a painting ,that sold for $700.000? The painting was sold in navada ,I live in calif. I sold it an aution for $700.000 how much do i have to pay in taxes for capital gains.?And do i owe state or fed. ect. tax? When are the taxes due ?

Do I have to live in a principal residence to NOT incur capital gains tax when sold? I am renting living accomodations waiting for a new house to be built. I do not own any other property. This house will be my principal residence and I am considering selling it. My question is do I have to live in this house and if so for how long before selling it to not incur capital gains tax. This house is in Saskatchewan, Canada.

Will Capital Gains Tax be subject on Sale of Principal Residence when no new purchase is made? My sister wants to sell her condo which has been her principal residence. She wants to move in with me. Will she be subject to Capital Gains Tax since she will not be purchasing a new home or declare a new principal place of residence?

Is capital gains tax payable on sale of agriculture land? Please clarify in details about applicability of capital gains tax on the sale proceeds of an agriculture land like it's payable on the sale of other property like a house or a commercial building.Requested response from qualified boarders only.Thanks.

Can you set the interest payments against your capital gains tax ? When selling a property can you put all the interest you paid on the mortgage against the capital gains tax ?