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stephunderscoremoore

Level 1

Question

I sold my principal residence. What do I write under "proceeds of disposition", "date of disposition and "adjusted cost base"?

1 reply
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Alumni - Intuit

Proceeds of Disposition

The selling price of the property disposed of. The proceeds of disposition may also be compensation received for property that was expropriated, destroyed, damaged, or stolen.

Adjusted Cost Base

This is usually equal to the acquisition cost of the property, plus the expenses incurred to acquire the property and the cost of any additions to it. Examples of expenses incurred to acquire property include legal fees, surveyor's fees, and assessment or brokerage fees.

Disposition date

The date of disposition is the day you sold, got rid of or lost the property.