Re investment of ltcg

This discussion clarifies the rules surrounding Long Term Capital Gains (LTCG) reinvestment when selling a vacant residential site without immediate house construction. It explains that if a house isn't built within three years, the claimed LTCG exemption may become taxable. The advice also touches on whether building a small watchman shed qualifies as a residential house for tax purposes, stating it likely does not, as the property must be wholly used for residential purposes.