Miami Certified Public Accountant Providing Accounting, Tax, Audit and Consulting Services

Capital Gains, Losses, Sale of Home

Capital Gains, Losses, Sale of Home

Top Frequently Asked Questions for Capital Gains, Losses, Sale of Home

  1. What is the basis of property received as a gift?
  2. I sold my principal residence this year. What form do I need to file?
  3. How do you report the sale of a second residence?
  4. How do I figure the cost basis when the shares I’m selling were purchased at various times and at different prices?
  5. I purchased stock from my employer under a § 423 employee stock purchase plan. Now I have received a Form 1099-B from selling it. How do I report this?
  6. Do I need to pay taxes on the additional stock that I received as the result of a stock split?
  7. How do I calculate the average basis for the sale of mutual fund shares?
  8. I received a 1099-DIV showing a capital gain. Why do I have to report capital gains from my mutual funds if I never sold any shares?
  9. Is the loss on the sale of your home deductible?


Gustavo A Viera, CPA, is the managing partner in Gustavo A Viera, PA, CPA. His experience spans more than 25 years. His public accounting experience includes a senior audit manager at PriceWaterHouseCoopers with a focus in the healthcare industry, and Chief Financial Officer of Hewlett Packard Latin America and Telefonica of Spain. Gus also writes a blog twice a week that addresses issues his clients have at He has also taught in the SBA program in Miami FL, and is admitted to practice in the State of Florida licensed Certified Public Accountant. Gus welcomes questions and he can be reached at Gustavo A Viera, PA, CPA, 15715 South Dixie Hwy. Suite 211, Miami, Fl. 33157, 786-250-4450.

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