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What are the capital gains taxes on the selling of a deceased persons home valued at 67k and sold at 76k but clear after fees and taxes 68k?
Wiki User
∙ 16y ago
Depends on how this home was passed down to you. Need more info on whether it was a will, a trust, etc.
But if it really is valued at 67, your GROSS proceeds are 68, your gain would be 1k.
Wiki User
∙ 16y ago
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What is the journal entry of deposited 90000 in bank and contributed a system library valued 39000 to start a business?
debit bank 90000debit system library 39000capital capital 129000
Why in internal reconstruction capital reduction account is being prepared?
it is prepared so the amount reduced will be utilised in writing of fictitious assets, some intangible assets and the over valued portion of fixed assets
The Duties And Responsibilities Of An Estate Appraiser?
An estate appraiser is a highly specialized type of property appraiser, and estate appraisers deal almost entirely with listing and placing values on assets that belong to deceased estates. When an individual passes away - and especially if that individual did not have a valid will - it is essential that the executor of the deceased estate obtains a full inventory and a complete and accurate valuation of all assets forming part of the deceased's estate. This inventory and valuation will usually be obtained from a duly qualified estate appraiser, and, once the executor determines exactly how much the estate is worth, he can go about settling the estate's debts and then distributing the remaining assets among the deceased's heirs. As all assets belonging to a deceased estate usually have to be valued, an estate appraiser could find himself appraising real estate one day, luxury motors vehicles or a stamp collection the next and prize-winning livestock or under-performing race horses the day after. An appraiser must, therefore, have a wide range of knowledge covering many different types of property or must at least know how to contact experts in a particular field in order to obtain the information needed to produce an expert valuation. A valuation of the assets belonging to a deceased estate should, furthermore, reflect the assets' values as at the date of the deceased's death and not as at the date the inventory and valuation was effected. The estate appraiser should therefore take changing market trends into account when arriving at an asset's value - especially with regard to real estate - as including an inaccurate amount on the valuation could, for instance, have dire tax consequences for both the estate and the deceased's heirs. The services of an estate appraiser could also conceivably be used in other circumstances including, for instance, when an estate has to be valued due to a pending divorce or the assets of a partnership have to be valued when the partners have decided to go their separate ways. Whatever the situation, however, the life of an estate appraiser always promises to be interesting and his work always promises to be challenging.
What does it mean when a company is under-valued?
They have no money
Get cash when you need it?
an asset could be valued at the present value of its future inflows
What is the vision of IDBI bank?
IDBI stands for Industrial Development Bank of India. Their vision is: To be a trusted partner in progress by leveraging quality human capital and selling global standards of excellence to build the most valued financial conglomerate. It is currently the 10th largest development bank in the World.
What is the other name of idbi bank?
IDBI stands for Industrial Development Bank of India. Their vision is: To be a trusted partner in progress by leveraging quality human capital and selling global standards of excellence to build the most valued financial conglomerate. It is currently the 10th largest development bank in the World.
Is idbi is private or government bank?
IDBI stands for Industrial Development Bank of India. Their vision is: "To be a trusted partner in progress by leveraging quality human capital and selling global standards of excellence to build the most valued financial conglomerate" It is currently the 10th largest development bank in the World.
Who claims dividends of deceased stockholder without kin or a Will?
The estate. Even without a will, an estate needs to be opened and the assets valued and distributed. The assets include the stocks and related dividends.
What is the journal entry for exchanging 20 shares of treasury stock to a lawyer for his services valued at 1500?
debit lawyer fee 1500credit share capital 1500
Can a son who is executor sign over a title to a car for a child of the deceased in pa?
It is certainly possible for them to do so. Once the debts are settled and the estate valued, they can distribute the remaining assets. That would include the transfer of title
What are formulas of a Capital gains yield on a stock held for one year?
Capital Gains Yield = (Ending Price-Beginning Price)/Beginning Price For example, if you buy stocks in Apple, Inc. at a price of $100 and a year later the stock is valued at $110, the capital gains yield is equal to 10%
What is the executor responsible for?
They are responsible for executing the will, or the intestacy laws that apply. They have to inventory the estate's assets, have them valued, and protect them until they are distributed according to the will or law. They have to resolve all of the deceased person's debts and taxes and report the final accounting to the court.
What did the New Englanders valued?
they valued fur for fur trade, and the valued free religion .
What is the journal entry of deposited 90000 in bank and contributed a system library valued 39000 to start a business?
debit bank 90000debit system library 39000capital capital 129000
How do you know if you are valued?
This is a difficult question to answer? How do you define value? I will try to answer this. Different people will value you for different things. For instance: Your valued because of the work you do. Your valued for how you help others. You are valued for your smile. You are valued for you knowledge. Above all you are valued for you just being who you are. Ask some one why they value you. I think you will like the answer. But the best part of being valued, is that you know that you are valued for who you are.
Can a personal representative on an estate file bankruptcy on behalf of the estate or on behalf of the deceased to avoid paying back taxes?
Estates do not go bankrupt. The assets are inventoried and valued and the debts are listed. The executor proposes a settlement to the court. If it is accepted, the estate is closed.
