we bought land for $80K cash 5/2020. we sold it. 11/2024 for $120K . TT say we have CGT $108K but the only profit $28,000 but owe tax on $108K . how is this possible?

we paid property tax, took trip to inspect the land, etc... why so much?

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Double check the information you entered to report the sale. There may be an error in the entry for the cost basis of the land.

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