The cost of the new land .2 acres is $25000- sale just completed. the 1.8 acres cost was $45,000 - it is 45% part of our existing property purchased 8 years ago and is being partitioned off with the newly purchase property as a 2 acre lot. We spent $25000 on zoning process to meet county minimum lot size of 2 acres and other requirements.
Would like to sell soonest but want to know tax liability before I jump at offers on table.
