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Updated almost 3 years ago,

Jeffrey Chang's profile image
Jeffrey Chang's profile image
Jeffrey Chang
  • from Atlanta, Georgia
  • Member since Nov 8, 2015
Connect

User Stats

19
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3
Votes
Jeffrey Chang's profile image
Jeffrey Chang's profile image
Jeffrey Chang
  • from Atlanta, Georgia
  • Member since Nov 8, 2015
Connect
Jeffrey Chang
  • Atlanta, GA
3
Votes |
19
Posts
General Real Estate Investing

How to calculate capital gains on sale of lot

Jeffrey Chang
  • Atlanta, GA
Posted
Hello.
I purchased a lot to build my home about 20 months ago.  I spent about $30,000 to remove the existing foundation.  Now, I am going to sell the lot.  Can I deduct $30,000 from the sale price in order to calculate the capital gains?

Thanks.
Atlanta, Georgia
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