My Wife and I bought the land (we have lived on) about 1967. A couple months ago I sold a little of the (unimproved pasture) land. The "cash value" of the land has increased a little over 46 times what we paid for it in 1967. Sounds like a lot but the selling price today, corrected for inflation, would equate to what we paid for the land in 1967. When we bought the land the locals told us we paid too much. I sold the land for a little less than I could actually have gotten for it, to do someone a favor (long story). So my question, for anyone that may know, Lawyer, tax expert about land sales, etc, is, does something like this come into taxes some how, "Capital Gains",etc. ? I called the IRS. They were totally useless.