You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “Will I pay capital gains on my land sale?”.
Will I pay capital gains on my land sale?
This entry was posted in Land For Sale. Bookmark the permalink.
3 Responses to Will I pay capital gains on my land sale?
Yes.
You will pay capital gains tax on the profit for federal along with Arizonza and Virginia income tax. Virginia should give you a credit for the Arizona taxes though.
Report Spam/Abuse
Yes, you will owe capital gains.
Report Spam/Abuse
Unless you've lived on the property for the last two years prior to selling it, then yes, you will owe capital gains tax.
Report Spam/Abuse