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Small Cabin Forum / Properties / Cabin sale and partial land sale
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rettaschu
Member
# Posted: 15 Apr 2015 02:42pm
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I live on 50 acres. My boyfriend had the frame of a cabin put up before he passed away in 2013. I finished the cabin last year (2014) and am selling it and the property it sits on plus a little. I will have to get separate legal ect. but I am not sure how that will affect my taxes. I may need to ask a tax website but thought I would see if anyone else has done this and what the implications are or how their experience was.

MtnDon
Member
# Posted: 15 Apr 2015 02:52pm
Reply 


Check with your county. Where I am there are special requirements when spinning off small parcels of land. Access rights of way, etc. etc.

bldginsp
Member
# Posted: 15 Apr 2015 07:52pm
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Profit made on the sale may be taxable since you did not live there. You can deduct costs of improvements, called cost of basis, if you saved all your receipts.

rettaschu
Member
# Posted: 17 Apr 2015 05:18pm
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Thank you

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