I purchased a raw land in Sep. 2005 only for the purpose of appreciation at $300K. And sold this land Sep. 2007 at the $310K. I have been deducted the property tax every year. I spent about $32K for the mortgage interest, and $4K for the mainenance. ( No improvement ) The maintenance was for HOA fee, irrigation fee, and Mowing & Spray. In this invetment, I got the appreication around $10K, and spent the $36K. My qustion is how to calculate basis and selling price in this situation.
Posted in Land For Sale
Tagged 300k, appreciation, Federal, federal taxes, fee, HOA, hoa fee, irrigation, K. And, K. I, Land, mortgage interest, Property, property tax, purpose, raw land, sale, SEP, tax, year
Is the Agricultural and Commercial Land is treated differently than the Residential land for the purpose of calculation of capital gains tax?
Posted in Land For Sale
Tagged Agricultural, calculation, Capital, capital gains tax, commercial, Land, purpose, Residential, residential land, sale, tax
If a parcel of land that was originally purchased for $8,500 is offerred for sale at $150,000. is assessed for tax purpose at $95,000, is recognized by its purchasers as easily being worth $140,000, and is purchased for $137,000, the land should be recorded in the purchaser’s book at?
Posted in Land For Sale
Tagged accounting, accounting class, class, Land, parcel, parcel of land, problem, purchaser, purpose, sale, someone, tax, tax purpose, tech
I was really annoyed when I realised, I doubt it could have fallen out as they were all folded with the hangers on, so I’m assuming the assistant forgot to put it in the bag, or maybe did it on purpose as she said it was a really pretty top. I remember her taking it off the hanger and thought she’d put it in the bag, whereas the other tops were all left on the hangers. So I’m not sure. I’m just worried now that if I go back saying it wasn’t in the bag, they’ll think I’m lying and trying to get another one free. Has this ever happened to anyone else? By the way, I was definitely charged for the top as it is stated on the receipt.
I am trying to find a place in eastern PA where I can both hunt and practice long-range shooting. I would like to either buy a big parcel of land for this purpose, or find an owner from whom I could rent land for this use.
Web searches for this have proven useless, since there are so many businesses trying to refer to traditional real estate brokerages (for developed real estate).
1. Where can I go to determine where large parcels are for sale, and what the costs are?
2. Are there any forums where large land-owners would offer to rent their land to private individuals for sporting purposes?
Posted in Land For Sale
Tagged Easiest, eastern PA, Hunting, Land, long range shooting, owner, parcel, parcel of land, Place, purpose, shooting, use, Way