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johnpeters20
New Member

Do you post property sales as actual sale, or the profit from the sale after mortgage deducted?

 
1 Reply
DanPaul03
Level 3

Do you post property sales as actual sale, or the profit from the sale after mortgage deducted?

In TurboTax follow the steps to report your property sale.  There are sections for the sale of rental property and for the sale of your principal residence.  You will report the entire sale and also the mortgage amounts as you go through the interview.  You will pay taxes on the gain from the sale.

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