Posted on: 11th Oct, 2010 05:34 am
I inherited land several years ago. If I sell it, can I use the profit for a new home purchase without paying capital gains tax?
Hi Pamkon!
Welcome to forums!
As far as I can understand, you'll be able to use the profit resulting from the sale of the land to purchase your new home. If you do so, you won't have to pay any capital gains tax.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I can understand, you'll be able to use the profit resulting from the sale of the land to purchase your new home. If you do so, you won't have to pay any capital gains tax.
Feel free to ask if you've further queries.
Sussane