Are profits from the sale of gold taxable?

Answer Yes, the Internal Revenue Service considers profits from the sale of gold as capital gains. Capital gains can be short- or long-term, depending on whether the gold was held for more or less than a ... Read More »

Top Q&A For: Are profits from the sale of gold taxable

Is a car sale a taxable event?

When selling your car you will not be taxed; however, the buyer is responsible for paying taxes on the vehicle at the time he pays for registration and the license plate for the vehicle. Tax percen... Read More »

Is the loss from my home short sale taxable?

Loss from a short sale on your home is taxable under some circumstances. If the mortgage-holder forgives, or cancels, the balance of the debt you owe after subtracting the sale price from the mortg... Read More »

Is income from sale of inherited property taxable?

You are subject to federal capital gains taxes when you sell property that you have inherited. Each state has different tax laws, so you may be subject to state taxes as well. If you have sold or a... Read More »

How to Diminish Taxable Capital Gains with a Structured Sale?

An alternative to a 1031 Exchange for someone who does not want to continue to hold property is a structured sale. A structured sale is a simple process by which the seller can diminish the amount ... Read More »