topic Sold a piece of land for $68,500, netted $63,718 after closing costs, agent commission, prorated taxes, etc., what amount do I enter in the Net Proceeds field? in Deductions & credits

Sold a piece of land for $68,500, netted $63,718 after closing costs, agent commission, prorated taxes, etc., what amount do I enter in the Net Proceeds field?

scoobyboo — Wed, 05 Jun 2019 02:23:13 GMT

Coleen3 — Wed, 05 Jun 2019 02:23:14 GMT

You enter the amount you actually sold it for, $68,500. You can adjust the basis for the closing costs.

Sales Expenses for selling your property include:

Coleen3 — Wed, 05 Jun 2019 02:23:16 GMT

How can my answer be more helpful?