Thank you @Opus 17 , you're a true Champ!
Regarding property taxes in my country, we don't have crazy property taxes like in the US.
I only pay to our local county a small tax fee once a year which can be as low as $200, so I'm not worry about it.
I also agree about being audited, it's a small probability, but I want to be prepared for it.
I also know that many people in my position wouldn't even report sale like that to the IRS, but not me, I want to sleep well at night.
I also have a few acres of land in my country, which I received from my father in the 80's. The basis in that land is almost zero, but now it's worth something. Are there same rules for sale of land? There is not much improvement you can do to a land, unless you build a house on it or some kind of structure. Your thoughts? Thank you.
