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Tony Martinez posted an update in the group
TaxGPT a week agoDid you know that land held for investment is treated as a capital asset for tax purposes?
When sold, the gain or loss falls under capital gains taxation:
👉 Short-term gains (held ≤1 year) are taxed at ordinary income rates.
👉 Long-term gains (held >1 year) enjoy reduced tax rates (0%, 15%, or 20%, depending on income).The land’s basis includes…
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