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South cental Ohio | Just wondering what may happen if I would sell a 6 acre property with a few older out buildings on it for more than it cost me to begin with? Here's an example in rounded off figures..... About ten years ago , inherited the property from an estate. It was valued at $100,000. Today, wanting to sell the property for $250,000 (have a buyer too). What kind of taxes or capitol gain will I be having? I have no idea because I have never done this before. | |
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What to expect when reselling a property for a profit????
