Updated over 10 years ago on . Most recent reply
Dividing Land and Tax
We just purchased a small ranch (46 Acres) in Texas with the intent of dividing and re-selling. The ranch is conducive for dividing because it has about 2500' of highway frontage. My goal is to divide it as follows:
1. 15 Acres and a Pond
2. 26 Acres, Two Barns and Corrals
3. 5 Acres, House, Small Orchard
My question is: If I sell them separately, how are the capital gains for each piece calculated?