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?

[Coleen3]

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:

• Sales commissions
• Advertising Expenses
• Legal Fees
• Broker Fees
• Transfer taxes

[Coleen3]

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