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Deductions & credits
You would need to file a tax return to report the sold land plus your social security benefits. Your gain from the sale of land would be the sales price minus what you paid for the land.
Social security benefits are taxed on the amount of your income over:
$0 if MFS and lived with spouse at any time
$25,000 single, HOH, QSS, MFS (didn't live with souse all year)
$32,000 MFJ
It could be that you file a return to show the sale and social security but have no taxable benefits.
This puts you in the 0% capital gains tax bracket meaning no income tax on the sale.
Overall, you would not have any tax to pay unless you have more income.
See Topic No. 409 Capital Gains and Losses - IRS & How much of my social security benefit may be taxed?
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‎April 3, 2023
8:59 AM