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Bought a lot and then built a house, short term or long term capital gain?

1/31/2020 bought a land for 100k

We started to build a house from early 2021 to mid 2021 with a total cost of $200k

Sold the house on July 2021 for $350k

Is the 50k gain a long term or short term capital gain or mixed? If it is mixed, how to separate them?

Thanks.

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2 Replies

Bought a lot and then built a house, short term or long term capital gain?

anyone know this?

Hal_Al
Level 15

Bought a lot and then built a house, short term or long term capital gain?

I don't "know' it, but my opinion is that it is all a long term gain.  I know, for example, that if you make improvements to your home in the year you sell it, you add that improvement cost to your total (long term) basis. 

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