Hi guys, Welcome to the Advanced Video Search Engine, and you are watching Taxes for Landlords, pt. 5: Selling a Rental Property. That video is uploaded by The Tax Geek at 2021-11-16T16:36:23-08:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [t2NejSNeNEA]
| Name | Taxes for Landlords, pt. 5: Selling a Rental Property |
| Video Uploader | Video From The Tax Geek |
| Upload Date | This Video Uploaded At 17-11-2021 00:36:23 |
| Video Discription | If you own rental property, there can be significant tax consequences when you sell it. Your taxable gain usually has nothing to do with the amount of cash you receive at closing, and is instead based on what you originally paid for the property, any costs involved in selling it, what you sold the property for, and any depreciation you took (or could have taken) on the property. This video details how the gain (or loss) on the sale of a rental property is calculated, and where the sale is reported on the tax return. Before you watch this video, you probably should watch (or rewatch) these videos: Other videos on rental property: Rental Income: https://youtu.be/TWYrP6HgC7o Rental expenses: https://youtu.be/j2DfrDYJvIw Rental property depreciation and amortization: https://youtu.be/9nnHxhFZeek Schedule E: https://youtu.be/V49g0QX2QKM Rental Loss Limitations: https://youtu.be/yRAIiPCeW_0 How is Capital Gains Tax Calculated? https://youtu.be/TzcuPJmfZDc What is a Capital Gain? https://youtu.be/a_KXyr3PBto RESOURCES and INFORMATION: IRS Publication 544: "Sales and Other Dispositions of Assets": https://www.irs.gov/pub/irs-pdf/p544.pdf IRS Form 4797 "Sales of Business Property": https://www.irs.gov/pub/irs-pdf/f4797.pdf IRS Form 1040 Schedule D: "Capital Gains and Losses": https://www.irs.gov/pub/irs-pdf/f1040sd.pdf IRS Form 1040 Schedule D Instructions (contains the Schedule D worksheet featured in the video): https://www.irs.gov/pub/irs-pdf/i1040sd.pdf The Tax Geek on Twitter: @taxgeekusa The Tax Geek on Reddit: www.reddit.com/r/askataxgeek Image Credit: Wikimedia Commons (CC-SA 3.0) NatGeoLover Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Audio Library Background and Outro Music: George Street Shuffle, Kevin McLeod, http://incompetech.com via YouTube Audio Library DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional. The tax information in this video is based on tax law and IRS regulations in place when this video was published, and is subject to the whims of Congress. t2NejSNeNEA |
| Category | Education |
| Tags | Federal Income Taxes | Rental Property | Disposition of business Assets | Selling property | capital gains | IRS Section 1250 | Unrecaptured Section 1250 Gain | IRS form 4797 | IRS Schedule D |
