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Do you have to pay capital gains on land?

Taylor Davis | 2023-06-13 09:00:23 | page views：1507
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Charlotte Lee

Studied at the University of British Columbia, Lives in Vancouver, Canada.
Someone in a 35% federal tax bracket with a profit of $50,000, for example, would pay $17,500 in short-term capital gains taxes by selling the land after a year or less of ownership versus $7,500 in long-term capital gains taxes if the land were held for more than a year. Lowering your taxable income.Jan 3, 2011
2023-06-16 09:00:23
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Benjamin Torres

QuesHub.com delivers expert answers and knowledge to you.
Someone in a 35% federal tax bracket with a profit of $50,000, for example, would pay $17,500 in short-term capital gains taxes by selling the land after a year or less of ownership versus $7,500 in long-term capital gains taxes if the land were held for more than a year. Lowering your taxable income.Jan 3, 2011
How can I reduce my capital gains taxes on the sale of vacant land?
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