R
Rasher
Guest
I am considering purchasing 20 acres of land. There is an old house on the property which I do not require and would like to sell it as a separate lot afterwards along with 2 to 3 acres of land.
The current price is 160K. I would expect to get 70K for the old house. What are the tax implications or can I offset the 70K I hope to get against the 160K I paid for the entire lot
Any information appreciated
The current price is 160K. I would expect to get 70K for the old house. What are the tax implications or can I offset the 70K I hope to get against the 160K I paid for the entire lot
Any information appreciated