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Legech
New Member

Capital gains taxes on sale of vacant land in michigan

I'm selling vacant land in Michigan (intended for personal use) for $500,000; paid $200,000 more than 20 hrs ago. Can I reduce the capital gain by mortgage loan and/or land contract interest paid through the years? Or, only real-estate commission?

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‎October 7, 2024 1:24 PM
last updated ‎October 07, 2024 1:24 PM
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tagteam
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Capital gains taxes on sale of vacant land in michigan

 
‎October 7, 2024 3:23 PM
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