Currently in Turbo Tax and at the entry where it is asking me to fill in the 'asset sales price'. Then also 'asset sales expenses'. I sold the property for 162,000, received 110,000 in cash. This was after all selling expenses and commission and also payoff mortgage of 50,000. What do I put in for a 'asses sales price?'. Would appear by the help instructions '110,000'. However then the 'asset sales expenses' tells me to total all my expenses which seems contrary as the 110,000 is after all those expenses. TOTALLY Confused. Can anyone shed some light on this? Thank you.
