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Question about Principal Residence

I have sold my house and I am filling out the forms for Principal Residence, and it's asking me about Outlays and Expenses and Adjusted Cost Base. What should I put there? 

1 Reply
csha06
New Member

Question about Principal Residence

Adjusted cost base includes any expenses incurred to acquire the property. For example, these include inspection fees, taxes, maintenance costs, etc. 

 

Outlays and expenses are the costs incurred during the sale of a property. For example, advertising costs, commission fees, transfer and broker fees, etc are part of it.

 

For more information, you may check the site:

 

Definitions for capital gains

 

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