Updated about 3 years ago on . Most recent reply
Calculating Capital Gains
Hi - This is a very basic question. To calculate capital gains on the sale of a home, do I factor in the closing costs on both the purchase and the sale? I assume so but I want to be sure. So, assume that if I buy a property for $100k and sell it for $150k, if my purchase closing costs were $10k and my sale closing costs were also $10k, then my capital gains were $30k. Is that correct? Thanks!