Would I have to pay capital gain taxes on the sale of my home quit deeded to me from my deceased parent prior to death, or is this covered under the inheritance/gift tax law?

March 4th, 2024

I sold my vacation home and 30 days later sold my primary residence, using the profits to buy a new primary residence. Do I have to pay capital gains tax on the vacation home if I rolled the money into a new home within 45 days? How do I limit my tax liability and what forms do I need to use for both sales?

July 12th, 2024

I bought my home in December 2004 for $388,000 and want to sell it now for approximately $525,000. Since I've lived in the home for less than two years, what will the capital gains rates be and on what amount? Is there a different rate for the first year versus the beginning of the second year of ownership?

September 30th, 2024

My wife and her sister inherited property in Greece and have been paying Greek taxes on the property. If the property is sold for 450,000 Euro and the money is deposited in a Greek bank, what are the problems and limitations associated with electronically transferring over $10,000 in funds to a US bank and what would be the US Tax liability? Specifically, I would like to know my options and how best to avoid paying US taxes.

December 26th, 2023

What does the IRS allow per book for the donation of paperback and hardback books? I have a number of paperbacks and a few hardback books I would like to donate if I can get an allowance for the donation.

July 27th, 2024