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Eric, Both Buyer and Seller in 76002

I am currently building a house, that will cost me about 450k when complete. The project will probably be

Asked by Eric, 76002 Thu Nov 29, 2007

finished at the end of December 2007. I am told the house will appraise for about 2mil. I have already been approached by a corporation to buy it for 2mil. My question is how much total taxes, including capital gains, am I expected to pay for this sale?

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Absolutely no one on this site can tell you that. Any tax accountant will need to know a lot more, including your current tax bracket and position. If you do not have current tax accountant, invest in a one hour meeting with a tax accountant. They cannot give you a precise answer without actually preparing your tax return. But they can give you a rough idea, based on the info you tell them as assumptions, within the hour.
0 votes Thank Flag Link Thu Nov 29, 2007
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