I went into a joint venture with my brother on a land purchase about
15 years ago. We bought 200 acres for resale. It was cheap because it did not have access. The plan was to buy the access to the land and then buy the land which we did. Since it was my idea and i knew where the land was my brother agreed to put up all of the money and we would split the profit 50/50. To protect his investment we agreed to put the land in his name only. After we found a buyer he got greedy and decided to try and keep it all himself. It ended up in court and we are just now settling our dispute. In the settlement 80 acres are to be transfered to me. Now I have someone that wants to buy my 80 acres.Can I claim capital gains on the sale of this land since i had a joint venture interest in it for the last 15 years? The joint venture interest has been filed at the clerk and recorders office all this time.