Capital Gains
Can you please tell me if I have to pay capital gains on a 2 acre
property with the potential of subdividing? Thanks
Have a great day!
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david ingram replies:
I would say yes based upon your question. And if you are buying
it with the idea of subdivision it is straight income, NOT
capital gains tax rates.
However, I do not have enough information and little time at this
point.
Go to www.centa.com - click on Tax Guide in the top left hand
corner and read the Capital Gain section. There are 27 pages of
capital gains information with court case decisions.
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