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selling land on contract and paying capitol gains tax

Posted on: 31st Dec, 2008 10:47 am
If i sell agricultural land on a 30 year contract. When do i have to pay the capitol gains tax?
Hey mmckee,

I did not understand what you wanted to say by "sell agricultural land on a 30 year contract" Can you explain this? It will help me to answer your query.

As far as capital gains tax is concerned, if there is a profit resulting from the sale of the property, then you may have to pay the capital gains tax.
Posted on: 31st Dec, 2008 10:10 pm
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