Do you pay state sales tax as well as federal capital gains tax when you sell land?

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1191974

2026-03-05 01:15

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Yes this could be possible when the state has a sales tax on the sale of land.

On your federal income tax return 1040 schedule D or 4797 yes you would report the sale of the land and if you have a capital gain could have to pay some income tax on the amount of the capital gain.

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