Welcome Guest. Register Now!  


For 2014 Tax Tips For Year 2014.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-14-2015, 09:40 PM
Junior Member
 
Join Date: Feb 2015
Posts: 2
Purchase and sale of vacant land

I bought a vacant lot to build a house on (2/2014), then sold a similar lot I had owned for 3 years (at a profit) in 8/2014. Do I need to claim that profit as income? Or can I claim that that profit was funneled back into the lot I just bought. I have no 1099 for either one. ??



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Foreign Real Estate Land sale and tax rvenugopal Rental Real-Estate 2 01-09-2015 01:09 AM
Rental on vacant land is less than property tax danny1 Rental Real-Estate 1 04-07-2011 02:42 AM
Purchase of Land in Canada on DE C Corp name. alsoum Estimated Taxes 0 09-09-2009 10:54 PM
Closing costs for vacant land purchase mantismm Itemized Deductions 1 02-07-2009 10:55 PM
Where do I deduct the taxes paid for my Vacant Land Investment? SusanB Investment Strategy 1 01-28-2007 11:37 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning