What taxes are there on selling vacant land in Pennsylvania?

Answer by  patti (29325)

Consult with your accountant or tax professional about how the sale of the land will affect your tax filing. The IRS laws regarding capital gains change frequently. If you choose to re-invest, you likely will not be taxed. Check with your local tax assessor regarding any special levies in your jurisdiction.

Answer by  Liz59 (10966)

You have to pay about 15% of the difference between the selling price and the vacant price. That is the tax amount.

Answer by  MPyles (201)

This depends on if you made a profit on the land or not. If you did not make a profit there are 0 taxes.