Capital Gains Tax on the sale of part of my garden?

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Capital Gains Tax on the sale of part of my garden?

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11-28-2007, 09:15 PM

Hells Angel Hells Angel is offline

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Join Date: Nov 2007

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Capital Gains Tax on the sale of part of my garden?

I am selling approximately an acre of land - which is attached to my home. My husband is already on the 40% tax bracket. Will we have to pay CGT? We are not selling our home just part of the garden for someone else to build on. We have lived there for 4 years and it has been soley our garden and not used for anything else. Help! Thanks.

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