Capital gains tax on vacant land

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sara

Joined: 05 Jul 2006

Posts: 955
Location: New Brunswick, New Jersey

182.56 Dollars($)

Posted: Tue Mar 18, 2008 2:17 am Post subject: RE: capital gains tax on vacant land

Hi Rhonda, Welcome to the forums. You'll ahve to pay capital gains tax on the land sold off for $80K provided you don't qualify for capital gains tax exemption . But you need not pay tax on the land bought. Take Care

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