http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/ Thu, 17 May 2012 17:06:58 +0000 http://wordpress.org/?v=2.7 hourly 1 http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/comment-page-1/#comment-799 daoco Sat, 31 Jan 2009 10:54:44 +0000 http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/#comment-799 No deferral is allowed. Make sure you calculate your basis correctly including all re-invested dividends and cap gain distributions. No deferral is allowed. Make sure you calculate your basis correctly including all re-invested dividends and cap gain distributions.

]]> http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/comment-page-1/#comment-798 spicertax Fri, 30 Jan 2009 05:15:08 +0000 http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/#comment-798 Sorry a rollover of capital gains from securities is not possible. A common strategy is to sell any other securities you have by 12/31 if they have a loss to offset your gains. If so you can wait 30 days and buy the same stocks again without violating the wash sale rule. Sorry a rollover of capital gains from securities is not possible. A common strategy is to sell any other securities you have by 12/31 if they have a loss to offset your gains. If so you can wait 30 days and buy the same stocks again without violating the wash sale rule.

]]> http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/comment-page-1/#comment-797 TaxMan Tue, 27 Jan 2009 23:20:23 +0000 http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/#comment-797 Being a tax professional, let me say that if you sell the mutual funds and use the proceeds to pay for a house, unfortunately there is no way to shelter or hide the gains from the federal government. You will have to claim them on your tax return. The only way to delay paying taxes on gains is when you do a section 1031 exchange, but that will definitely not work selling a mutual fund and buying a house. Take pride in the fact that you have the gains, many people don't. Also, realize that, if you held the funds for over a year, the capital gains will be taxed at only 15% for the federal government. Being a tax professional, let me say that if you sell the mutual funds and use the proceeds to pay for a house, unfortunately there is no way to shelter or hide the gains from the federal government. You will have to claim them on your tax return. The only way to delay paying taxes on gains is when you do a section 1031 exchange, but that will definitely not work selling a mutual fund and buying a house. Take pride in the fact that you have the gains, many people don’t. Also, realize that, if you held the funds for over a year, the capital gains will be taxed at only 15% for the federal government.

]]> http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/comment-page-1/#comment-796 Dr Dee Mon, 26 Jan 2009 20:26:23 +0000 http://www.secretfinance.com/blog/capital-gains-from-mutual-funds-can-i-apply-them-to-a-new-home/#comment-796 You should ask a professional tax consultant rather than amateures here. You should ask a professional tax consultant rather than amateures here.

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