Capitol gains calculation.

We sold our rental investment in 2022.

What would my net capitol gains be using the following data:

Bought for 200K

Sold for 600K

Our mortage is 150K

 

Does this mean our real selling price is 600K-150K = 450K?

 

Thank you!

Troubleshooting

No, you do not minus the amount of mortgage still owing. 

 

Thank you for choosing TurboTax.

View solution in original post