Capital Gains And Vacant Lots...
I have some vacant lots for sale that are owned by an LLC that I formed.
Will this fact allow me to avoid capital gains upon selling the lots?
TIA
Don
I have some vacant lots for sale that are owned by an LLC that I formed.
Will this fact allow me to avoid capital gains upon selling the lots?
TIA
Don
Anyone?
TIA
LLC is a pass-through entity that is disregarded for tax purposes. It doesn't matter how long you hold it, you still have to pay cap gains.
LLC will not protect capital gains, but rate is only15% now.
Gregg
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Thanks for the replies.
GFous, I see you are in Ft. Myers...
Can you recommend any good spec. home builders in the area?
I'm in Lehigh Acres.
Thanks again.
Don
You need to give me your definition of "Good"
You get to pick two out of the following three:
1. High quality
2. Fast
3. Cheap
I am sure I can help you. PM me.
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