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Asked in Business & Finance, Capital Gain
What is a realized capital gain?
A capital gain is an increase in the value of invested money eg the rise in the value of shares, the increase in value of land or property, the increase in value of a work of art, etc In the UK capital gain is taxable by the iniquitous Capital Gains Tax. The gain is only realised when the investment is sold. Tax can then be computed on the gain. ...
What is the accounting entry for the declaration of the property dividend?
To account for the declaration of a property dividend, you must first restate the property at fair value, recognizing any gain or loss as the difference (125,000) between the property's fair value (750,000) and carrying value (625,000) at the DATE OF DECLARATION. Investment in securities 125,000 Gain of appreciation of securities 125,000 Retained Earnings 750,000 Property Dividends payable 750,000 At the DATE OF DISTRIBUTION of the property dividends: Property Dividends payable 750,000 Investment in securities 750,000 ...
What is the Charitable contributions deductions for capital gain property?
If you donate a capital property to a registered non-profit organization that is approved by the IRS, you can deduct the lesser of the fair market value or your basis in the property. ...
Do you pay tax on inherited personal property when you sell it in new york?
You can have a taxable gain on the sale of personal property however you obtain the property. Individuals do no have to pay estate taxes, the estate of a deceased person would have to pay any inheritance taxes due before property was dispersed to the heirs. As to the sale of property by someone who inherited property, you would owe taxes on any gain on have from the sale of such property. You basis (value) of the property is the fair...
Asked in Taxes and Tax Preparation, Capital Gain
What if piece a of property value at 400000 your share is 383546 you pay the difference to the estate would you have to pay capital gain taxes on the property when it is sold?
Ignoring any possible reasons, (like primary home) that the gain would otherwise be exempt.... The basis of the property in your hands is the amount of the value from the inheritance/estate. You would have a gain from that amount (plus any additions of course). This is actually a great thing...say the person you ingherited it from paid 100K....the gain of thew 300K (100-400), is NOT taxed. This is called a stepped up basis. ...
Do you have to pay taxes if you sell a house and property you inherited in Oklahoma?
Actually inheritance (if any) taxes were handled when you received the property. That point in time establishes your basis in owning the property. What you sell it for above that value essentially decides what your taxable gain will be. ...
What is equity investment in real estate?
An equity investment, on the other hand, represents a residual interest in the property. When you are an equity investor, you are essentially the owner of the property. You stand to gain a lot when the property value increases or if you are able to get more rent for your building. ...
Asked in Income Taxes
Can a corporation recognize a gain or loss in a complete liquidation?
Yes, generally a corporation must recognize gain or loss upon a distribution of propoerty in liquidation, computed as if the property were sold to teh distributee shareholder at its fair market value. Code Sec. 336(a). The type of gain or loss recognized (e.g., ordinary, capital, Section 1231) depends on the nature of the property to the corporation, as well as the property's holding period. ...
Asked in Income Taxes
If I change my primary residence to a rental for any period and then sell it at a loss can I deduct the loss?
You will never be able to take a loss for the decrease in value during the time it was a personal use property. At best, you'll be able to take a loss for any further decrease in value after you convert it to a rental property. It is very important that you get an appraisal at the time you convert it. If you sell it for a loss, your basis for determining a loss will be the lesser of the following...
Asked in Electronics Engineering
What is the current gain value of BC 148 transistor?
The hFe (current gain) on the BC148 ranges from a minimum value of 20 to 100, depending on collector current, with a maximum value of 300. ...
Asked in Real Estate, Income Taxes
Will more taxes be owed when you sell the property?
Not necessarily. In most cases the personal property components will depreciate in actual value, so their value at the time of sale will be close to their depreciation cost basis. Thus more of the sale gain will be allocated to real estate rather than personal property and taxed at the lower capital gains rate. A 1031 exchange to defer capital gains taxes is also a viable option for ...
Asked in Business Law, Estates
What is a 1033?
The basis of property purchased as the result of an involuntary conversion on which gain is not recognized is the cost of the replacement property less the amount of gain not recognized on the conversion. If qualifying replacement property is received as the result of an involuntary conversion, the replacement property's basis is the same as the basis of the involuntarily converted property decreased by any loss recognized on the conversion and any money received and not spent on qualifying replacement property. The...
How do you gain access to northern range in Pokemon Blue Rescue Team?
you have to buy southern island from wigglytuff's friend area shop and then the next early morning you should get a mission from the kelecon brothers and then you gain access to northern range ...
Asked in Business & Finance
What is the concept of data piracy?
Data piracy comes about when people gain access to data that is the intellectual property of another person and claim it as theirs. Piracy also involves monetary gain from another's intellectual property without his consent. ...
If coexecutor-beneficiary of taxable Estate wants to purchase the family home at appraised value which is significantly lower than market how do you determine fair distribution without wasting to tax?
The appraised value is supposed to arrive at fair market value. Remember that property owned by a decedent gets a new basis, which is equal to the value as of the date of death. When a buyer purchases the property for its value, there is no capital gain or loss. If the buyer pays less than fair market value, then you can simply allocate the difference between FMV and the purchase price to the buyer's share of the estate. ...
Asked in Jobs & Education, History of India
What we gain after independence in India?
Actually whatever we gain was done after independence. We gained independence. The country came to be ruled under civilized, kind, intelligent persons Democracy was established. Women were not discriminated. Women were given share in the property of their parents. Education was not neglected. People came to know about the value of education. ...