Posted on: 15th Apr, 2013 08:01 pm
I am retired and on SSI and RRDI, my home burnt down in 12/2012 and i purchased a new home. Now i want to sell the land in Arizona.. what tax liability will I have on the sale of the land?
I inherited the land and home when my husband died in 2010, it was paid off with credit life insurance
I inherited the land and home when my husband died in 2010, it was paid off with credit life insurance
Hi rdjusticedavis!
Welcome to the forums!
If your land sale results to any profit, then you will be liable for paying the capital gains tax.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
If your land sale results to any profit, then you will be liable for paying the capital gains tax.
Feel free to ask if you've further queries.
Sussane