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Deductions & credits
The mortgage payoff is "not" tax deductible and therefore has nothing to do with your gain. Only the interest you paid on the mortgage during the tax year is deductible. That's it. So your more accurate gain is the 90K you pocketed, plus the mortgage payoff amount, minus the total interest paid on the loan in 2022.
‎November 20, 2022
7:22 PM