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I sold a piece of bare land that I owned for 10 years. What factors/variables are used to calculate a gain or loss? And where do I enter it on the 1040 tax form?
Not rental property and never sold anything off the land. It is a lot in a new housing development. Only made improvements to the land by removing ***** trees and trimming other trees, and hauling in dirt to build up low spots.
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‎April 5, 2021
7:27 PM