We want to sell our house:
We purchased the land that our house on in May 2022 and made it our primary residence by living in a camper. During that time we started the process of designing and building house and a work shop.
The new house was completed in July of 2024 and we moved in.
Land purchase was $200,000
House cost about $700,000
Shop Cost of $80,000
We think we can sell it for $1,100,000.
How do we figure the Captial Gains tax?
