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posted Apr 1, 2022 12:08:08 AM

HOW WILL I CALCULATE THE ADJUSTED COST BASE AND TOTAL PROCEED DISPOSITION IN THE HOME SALE. I SOLD MY HOME FOR $841000, HOW SHOULD I CALCULATE?

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Level 6
Apr 1, 2022 9:38:07 AM

The adjusted cost base (ACB) is usually the cost of a property plus any expenses to acquire it, such as commissions and legal fees.

 

Disposition” refers to when you dispose of or get rid of a property. In most cases, the proceeds of disposition is the amount you received for the property.

 

 

Special rules can sometimes apply, for more information, please click:

Canada Revenue Agency(CRA) Adjusted cost base (ACB)

TurboTax Proceeds of Disposition

 

 

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