@AW175 wrote:
@tagteamNo use, raw land held for resale. Capital gains or losses does not give an option for a real estate sale.
@AW175
If you bought the land with the intention to hold it for resale in the ordinary course of business, you are a considered to be a real estate dealer and the land is inventory.
If the intention was to hold the property for appreciation (as an investment), then any gain or loss would be a capital gain or loss. There is an option in the program but it is geared toward the sale of stocks, bonds, et al., since they are the most common types of investments.
