I have owned a residential property now for 13 years. I purchased it for $410,000. It is currently valued at ~$1.3M. The property has a total of 10.5 acres. 1 acre of this is on a costal waterway. I am currently considering building a new house on the waterfront arce and selling the rest. I believe I could sell this acre for about $400,000. If I build on it and sell the other 9.5 acres, say for $900,000, what captial gain would I be liable for? taxbreak
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