Posted on: 04th Mar, 2009 09:35 am
I have read your answers - same question, purchase a plot of land from family member after her death and sold it but the other party is making payments. What is taxable that year - all or some?
Hi Denise,
I guess, you are speaking about capital gains tax. As you have sold the property, you may have to pay a capital gains tax depending upon the profit earned by selling the property. You can contact a tax adviser and discuss the issue with him. He will be able to help you in a better way.
Thanks.
I guess, you are speaking about capital gains tax. As you have sold the property, you may have to pay a capital gains tax depending upon the profit earned by selling the property. You can contact a tax adviser and discuss the issue with him. He will be able to help you in a better way.
Thanks.