The property in question is two vacant lots in Pasadena, ca The city of Pasaden will not issue permits to build; therefoe' the property values are very low. A builder has tried for seven years to obtain permits to buils without sucdess. The ciy has offered a sum to purchase all 30 lots involved at a severe drop in price. If I accept their offer of $100,000/per lot what is my liability for Capital gains on properties that the market for similiar properties is $400,00/ea
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