What is the Zakat due on two plots of land, one intended for sale and the other for building, both of which were sold for 80 million Iraqi dinars?

The land you bought with the intention of selling: This is considered a trade asset, and it is subject to zakat at a rate of one-quarter of one-tenth (2.5%) of its value on the day of assessment. Zakat for past years must be paid, along with repentance and seeking forgiveness. If the value is unknown, then exert effort in estimating it.

The land you bought with the intention of holding (for personal use) and then sold: This is not subject to zakat upon its sale. Rather, a new hawl (lunar year for zakat calculation) begins for its price from the day it was acquired.