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truelyhopeful99 · Joined: 11 Nov 2009 Posts: 1 1.30 Dollars($)

I am selling a 2 acre tract of vacant land. How is capital gains caclulated. The land sale includes water rights purchased separately. Together - these cost about 1/2 of what the land will sell at now. We have an offer but are in a dissolution of marriage and need to be clear on how to deal with capital gains.

jerry · Posted: Tue Nov 17, 2009 6:47 am Post subject:

Hi truelyhopeful,

I've replied to a query of similar nature and dicussed how the capital gains is calculated for tax purposes. You can refer to the page below to view the discussion:
http://www.mortgagefit.com/budgeting-finance/capitalgains-taxes.html#1 34860 .

However, you should discuss the issue with a tax advisor to know the exact amount of taxes you will owe on selling the property.

Thanks,

Jerry

Guest

Thanks Jerry The information is helpful.

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Capital Gains - How to Figure When Selling Vacant Land