When Is a License Required?

[madd]

i live in va, i am thinking of buying large pieces of land and selling them off like 2 acres at a time, would I be required to have a licenses to do this? and if so what type of license if i just plan on doing land? also am i required to claim this as an income even if i only do this once?

 

[HomeGuru]

You do not need a real estate license to sell your own property although State requirements may consider you a real estate developer selling lots within a subdivision in which case, certain licensing and registration may be required.

Sales proceeds are considered income per the IRS, even if one time.

[Edited by HomeGuru on 05-10-2001 at 02:58 PM]