The Total Proceeds of Disposition is the sale pric...

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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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New Member

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?

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.

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