Learn about Capital Gains from real estate broker and investor Andy Sheehy. What's the difference between profit and capital gain? Learn about capital gain relative to depreciation Smart Investing Tips
There a bit more, before the bank agreed to sub-divide we had to put 28k down and of course foot the expenses for sub-dividing etc. Can you tell me based on this semario what my capital gain taxes were be? Thank you, Jon
My wife and I bought a house with 28 acres approx 6 yrs ago last year we decided to sub-divide and sell 22 acres, basically open farm land. initially we wanted to build our dream home there but too expensive with bringing utilities across the creek etc. We the house with the land for 285k back in 2004. And sold the sub-divide land, 22 acres for 140k to a builder.
Great video! It cleared up alot for me. I am going to start Real Estate investing, and I was wondering about the taxes I would have to pay on any profit I make. I have heard you dont have to pay those Capitol Gain Taxes if you lived in the home for more than 5 years. (Not 100% sure on that yet) Im still researching and learning. Thanks! Great vid!
sheehteam 2nd part,
There a bit more, before the bank agreed to sub-divide we had to put 28k down and of course foot the expenses for sub-dividing etc. Can you tell me based on this semario what my capital gain taxes were be? Thank you, Jon
farstarfilms 11 months ago
Sheehyteam, great Vid:
My wife and I bought a house with 28 acres approx 6 yrs ago last year we decided to sub-divide and sell 22 acres, basically open farm land. initially we wanted to build our dream home there but too expensive with bringing utilities across the creek etc. We the house with the land for 285k back in 2004. And sold the sub-divide land, 22 acres for 140k to a builder.
farstarfilms 11 months ago
Great video! It cleared up alot for me. I am going to start Real Estate investing, and I was wondering about the taxes I would have to pay on any profit I make. I have heard you dont have to pay those Capitol Gain Taxes if you lived in the home for more than 5 years. (Not 100% sure on that yet) Im still researching and learning. Thanks! Great vid!
Stormclouds777 2 years ago