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Do I Have To Pay Canadian Capital Gains Tax For Selling Property?
Question by SS | Posted in Canada
I co-own a serene with my brother that I lived in for 10 years and was part of an inheritance from my deceased father. I moved out 3 years ago and purchased a new good form b in situ while my brother still lived in the home. We are looking to sell, does anybody be sure if i have to pay capital gain
Answer: Pass over the part about gifting, it makes no sense considering you state you co-own the property.
If, up until you moved out, you considered the impress upon your primary residence, then you will only pay capital gains on any gain from the point you moved out until now. Over a three
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How To Calculate Tax When Selling My Car Privately?
Question by ewaccord07 | Posted in Buying & Selling
I am in the procedure of selling my car privately and I am confused about the tax issues. I am a Florida resident and plan on selling to a local Florida citizen. If I list my car for $17,500, will the buyer then need to give me $17,500 + $1050 to cover the 6% sales tax, or is my payment of $17,500 supposed
Answer: The customer needs to give you 17,500 and then go to DMV or a licensed agent, pay them taxes to register the car
Do I Pay Canadian Income Tax On Selling A Painting That Was Given To Me As A Gift?
Question by alan b | Posted in Canada
I am about to auction a painting for alot of means. Initially it was given to me as a present by a friend who is now 20 years later a lionized artist. Do I need to pay tax on the money I make selling that painting at auction?
Answer: Yes, it is considered "listed familiar property".
When Should I Pay Capital Gains Tax From Selling Stocks?
Question by mee | Posted in United States
Let's say I have cut b stop term capital gains of $5,000 from selling stock A and long term primary gains of $10,000 from selling stock B. Both stocks were sold on 06/10/2006. To avoid any amercement should I pay federal income tax for those gains right away? Or I can wait until April 15, 2007?
Answer: If the gains are big enough that you will not have 90% of the tax due paid in through withholding you should have made an estimated payment on 6/15. You can still offset an estimated payment and be fine. However, there is an exception to the penalty if you have paid in enough to cover the amount of
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Tax Selling: Definition from Answers.com
selling of securities, generally speaking at year end, to realize losses in a portfolio, which can be used to offset capital gains and thereby tone down an investor's tax liability. ...
Tax Selling Definition
Tax Selling - Sharpness of Tax Selling on Investopedia - A type of sale whereby an investor sells an asset with a capital collapse in order to lower or ...
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