Capitol gains calculation.

[jani7]

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!

[TurboTaxBrenda1 · Accepted solution]

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

Thank you for choosing TurboTax.