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Buying & Selling Real Estate

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Sam Josh
  • Sunnyvale , CA
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373
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Calculation of Capital Gains

Sam Josh
  • Sunnyvale , CA
Posted May 28 2018, 08:16
How are capital gains calculated on investment properties? Is the tax levied on Selling price minus purchase price or does the seller get exemption on selling costs such as broker fees? For example I buy a property for 100k, sell it for 120k. I incur 6k to sell the property. Am I taxed on 20k or 14k. The latter accounting for exclusion of selling costs.

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