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raw land sale

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Icon Mini Profile aw_wfs





Joined: 08 Nov 2009

Posts: 2

1.59 Dollars($)
Post Posted: Sun Nov 08, 2009 8:35 am    Post subject: raw land sale
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my mother inherited some raw land from her mother.
I now have the land. The land has been in my family
for over 100yrs.. We are selling the land now. We have been paying taxes on this land as far back as I can
remember & I am 61 yrs old. How will the tax on the sale of thisland be treated?
Icon Mini Profile jenkin7
jenkin7




Joined: 04 Jun 2007

Posts: 4537
Location: Hawaii
728.43 Dollars($)
Post Posted: Mon Nov 09, 2009 12:51 am    Post subject:
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Hi aw,

Your query has been answered on the following page:
http://www.mortgagefit.com/propertytransfer/landsale-capitalgains.html #133239 . However, if you have more queries, feel free to ask.
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