re: Would I pay capital gains if selling raw land to buy a home?

quote:

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Not a CPA, but if you have lived in your primary residence greater than 2 years, unless it has changed, you won't pay capital gains on it.

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I am a CPA. The rule is must live in 2 of the last 5 years and you get at 250k deduction on increased value (500k if married and spouse claims as primary residence as well).

Second statement is correct.