My father & I bought a land plot in 2009 as joint owners. In July 2018, I released my right on the property to my father, he is the sole owner of the land plot from Jul 2018. If my father sells the land within Aug 2020, will the cap gain be treated as short term or long term or combination of both ?
Thanks in advance
| Originally posted by : Mani R.S | ||
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My father & I bought a land plot in 2009 as joint owners. In July 2018, I released my right on the property to my father, he is the sole owner of the land plot from Jul 2018. If my father sells the land within Aug 2020, will the cap gain be treated as short term or long term or combination of both ? Thanks in advance |
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Long term
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