Property Sale

Validate

Property Address

Property City, State, Zip

Original Purchase Date

Original Purchase Price

 

Acquisition Costs

Costs to acquire your property add to your cost basis, except for financing costs. For example, title fees, recording fees, commissions, etc. will add to the overall cost of your property. Points, origination charges, appraisals for financing, etc. do not (sorry). Please list those costs below or provide the purchase HUD (which is preferred).

 

Improvements

Please describe any improvements and approximate dates such as landscaping, window treatments, carpet, kitchen renovations, etc.-

Taxpayers commonly forget about improvements. Please pick your brain and be diligent.

 

Rental Questions

You may skip this section if this property was never a rental. However, if it was ever a rental or currently is a rental, please answer the questions below.

Date Property Was Put Into Service as a Rental

Did you depreciate the property each year it was a rental? Yes No Unsure

Did you move back into the rental prior to selling it? Yes No

Did you own it with anyone else besides your spouse? Yes No

 

If this property was mixed use (primary residence and rental), please list the dates it was your primary residence and the dates it was a rental. This is essential to determine your exclusion.

 

Capital Gains Exclusion

Currently the IRS allows up to $500,000 of capital gains to be excluded from taxation, but there are ownership and use rules. If you used the property for fewer than 24 months out of the past 60 months as your primary residence, you might still be eligible for a pro-rated amount of exclusion due to disability, military orders, etc. Please explain the reasons you sold this property if you lived in it for fewer than 24 months.

The IRS only allows the capital gains exclusion on your primary residence. However, if you own multiple properties such as vacation or second homes and rentals, more discussion might be required.

 

HUD Request

Please send a copy of the sell HUD. It is easier than asking for all the important information that it containssuch as real estate commissions, transfer taxes, pro-rated property taxes, etc.

 

Disclosure

I(We) verify that the information provided in this Property Sale Worksheet is accurate and complete. I(We) understand it is my(our) responsibility to include any and all information concerning income, deductions and other information necessary for the preparation of my (our) personal income tax return.

 

Submission

Please select the tax year that this information is associated with. In addition, please enter your name so we can group your submissions together plus your email address. Click the Submit button below to securely and safely send this information to us. You can submit as many forms as needed. If you later discover an error- simply re-submit your information and check the box below letting us know.

Is this submit form an update to a previous submission? Yes     No

Tax Year 2023 2022 2021 2020

Your Name

Spouse Name

Your Email