- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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).
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 14, 2022
5:50 AM