real estate gain tax on land?

ggelitetrader000 said:
I will probably get answer no however I will ask anyways and also some complicated scenario.

I am thinking to buy a land instead of home. But if land gains value over years will gain be taxable? I am assuming yes because it is not really a "primary dwelling unit" not even habitable place so 250k/500k RE gain tax break likely will not apply I presume.

But in case if I build something on that land few years later and started living there, and then sold later, how will gain be calculated?
Because even without market appreciation, the gain can still be made by simply building on top of land and then there could be another component of gain of actual market appreciation which can be exempted from tax.

To make it easier this tax complication, I believe this is possible scenario.
1. Buy land
2. keep few years.
3. Build the house
4. here is the key event. Have it appreciated by professional to determine FMV at the time it just finished building. This is a "cost basis". Anything prior that gain of land from 1. to 4. is not exempt including gain from cosntructing the house.
5. After years of living in, i decide to sell.
6. determine the tax-exempt gain from sale price at 5. by subtracting FMV at the time of 4.

What do you think?
More...

GET COWS!

It REALLY works, and I have seen it first hand...

https://www.theatlantic.com/busines...-loophole-the-florida-rent-a-cow-scam/255874/
 
murray t turtle said:
%%
Many states have a green belt law. AP fake news seems to be bothered by ''costs FL$950 million per year'' /liberal loons, LOL. Farmers use bulldozers also.
More...

The cows get transported from site to site, to comply with the laws. I have seen this first hand, with my own eyes.

Great looking cows, by the way, and roaming free, and happy. They are worth A LOT MORE alive, than dead. The way these cows take care of/eliminate taxes is priceless...

Cows can be an offshore haven in Florida!!!
 
ChipShotTrader said:
The cows get transported from site to site, to comply with the laws. I have seen this first hand, with my own eyes.

Great looking cows, by the way, and roaming free, and happy. They are worth A LOT MORE alive, than dead. The way these cows take care of/eliminate taxes is priceless...

Cows can be an offshore haven in Florida!!!
More...
%%
OK, they do the same with honey bee hives; but i doubt its that simple/ i have greenbelt property in a different state..........................................................have to have an approved ag plan + they claw back if you develop it\dont remember what kid of penalties they do if you deVelop it. AP fake news is still suspect; Avron Fogleman a big RE guy in Memphis area has it , looks like a cow :Dpasture tree farm/LOL.:D:D:D:D:D,:D:D Gov does it/ag business need$ all the tax breaks they can get + thats why some states give a sales tax exemption, also..............................................
 
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