Quick question: Does anyone have information about building a house on a lot that was purchased and owned initially as an LLC? I've heard catipal gains tax are now due on any "profit/gains". So would the building of a house be considered capital gain (I assume yes) and what is the tax for a home that would be worth say RD 13 million? I'm think WAY ahead here, but we are in the process of purchasing multiple properties, one house and two lots. (As other topic thread can attest! I hope later on this helps someone else thinking of a similar purchase...)
Building on a lot
brodies2013
04 September 2015 16:50:09
509
planner
04 September 2015 17:51:18
16621
The capital gains honey are calculated minus the cost of construction. So the gain is the difference.
brodies2013
04 September 2015 20:28:11
509
But, that would be up to the appraisor, right?
planner
04 September 2015 21:33:30
16621
Partly, you have to keep track of all your costs, including legal fees etc, then once the building is "valued" then you have capital gains or losses. NOW, remember appraisers can be "convinced" to see the "real" value..... 
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