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Client receive this for a piece of land. No house on it. Bought it in 2003 for 18000 and sold it in December of 2006 for 40000. Is it a long term capital gain? If not then what is done?
Client receive this for a piece of land. No house on it. Bought it in 2003 for 18000 and sold it in December of 2006 for 40000. Is it a long term capital gain? If not then what is done?
Thanks
Long Term Gain reported on Sch D.
brian
Everybody should pay his income tax with a smile. I tried it, but they wanted cash
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