The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/capital-gains-tax-on-real-property-question-22839216.aspx

Subject:  Capital Gains tax on real property question Date:  8/3/2005  6:35 PM
Author:  hinten Number:  80229 of 133119

It is my understanding that the capital gains tax on investment real property is 15% in 2005 (with my income tax bracket). The question I have is how do I calculate the actual profit amount?
For example,
purchase price was $100k plus $12k in utilities installation fees (gasline, electricity, etc.) plus homeowner fees
sales price was $200 minus realtor fees

Are there guidelines on what is included in purchase and sale sticker price? Is it simply the sticker price, nothing else can be included or subtracted?
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us