DanaB27
Expert Alumni

Get your taxes done using TurboTax

No, if your total income, including the gain, is less than $70,000 and you held the land longer than one year then you will not have to pay capital gains tax on the profit.

 

A capital gain is taxed at 0% if your taxable income is less than or equal to $80,800 for married filing jointly (IRS).

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