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Author: CentexHorn One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: How soon does capital gains tax kick in? Date: 2/13/2002 5:40 PM
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We have 2.5 acres of land we are going to sell to use as down payment on a house.
Will we be liable for capital gains tax immediatly, or is there a time period where, if we do put it towards the house, we will not be liable or the tax?
If we are not liable for the tax, where should we put the money between selling the property and buying the house.
We have had the land for 10 years, if that makes a difference.
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