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The Total Proceeds of Disposition is the sale price or is it the sale price minus the mortgage owing and other legal and real estate fees?
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October 30, 2019
6:52 AM
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Investors and rental owners
The Proceeds of Disposition is the total sale price. If you are reporting a taxable capital gain for the property, then the legal and real estate fees associated with the sale are reported as Outlays and Expenses. You are not able to claim an outstanding mortgage balance.
October 30, 2019
6:52 AM