jpbarman
New Member

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.