Capitol Gain question
I bought a property a couple of years ago for $125,000. The state purchased part of the land the home is on for $135,000 to build a new road, however I still have the house. How would my capitol gains work in this situation. My thought is the capitol gain would be $10,000 this year and whenever I sold the home the entire sale price would be a capitol gain at that time. Is this correct? Thanks, Allen.