Complicated Hello I have a complicated case and would like to seek for professional's advice here.
I purchased a condo from my friend in 2013 I gave him a check in person, however he didn't transfer the deed to my name until July 2015 long story (but at last he did), from 2013-2015, I paid the tax and HOA fee, legal fee for the transfer, etc.
Questions:
1) If I sell this property this year, I should be responsible for excise tax AND the capital gain tax for the difference between sold price and the purchase price(the check amount) right?
2) What kind of deductible can I claim when filing tax? Since the deed wasn't in my name until July 2015 but I paid tax from 2013-2015.
3) I have some capital loss in my stock investment can the loss be used to reduce the capital gain from selling the house?
Thank you. |