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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?
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