Posted on: 31st Dec, 2008 10:47 am
If i sell agricultural land on a 30 year contract. When do i have to pay the capitol gains tax?
Hey mmckee,
I did not understand what you wanted to say by "sell agricultural land on a 30 year contract" Can you explain this? It will help me to answer your query.
As far as capital gains tax is concerned, if there is a profit resulting from the sale of the property, then you may have to pay the capital gains tax.
I did not understand what you wanted to say by "sell agricultural land on a 30 year contract" Can you explain this? It will help me to answer your query.
As far as capital gains tax is concerned, if there is a profit resulting from the sale of the property, then you may have to pay the capital gains tax.