Feds battle real estate investors over capital gains

Should land sale profit be taxed at higher rate?
Published on Dec 22, 2004

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by CareyBot

Timothy Phelan, along with two other investors, purchased a 1,050-acre parcel of vacant land for investment. They formed the Jackson Creek Land Co. (JCLC) partnership to hold title for long-term appreciation in market value. During the next few years, the ...