- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
The proceeds of sale is the actual selling price, probably a number by that name on your sale settlement sheet.
Total amount paid is the basis in the land sold. That would include the original purchase price, the cost of other improvements, settlement fees and closing costs upon the purchase of the property. See here.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 12, 2020
5:02 PM