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Calculate Your Property Basis
Use this page to calculate your property basis.  Property Basis is a tax concept.  In order to determine whether or not you must recognize a taxable profit on the sale of your home, you should calculate your property basis as well as your Net Selling Price.  The profit on the sale of your home is the Net Selling Price less the Property Basis.  Depending upon the circumstances of your sale, you may or may not be required to include the profit on your next income tax return.

You can calculate your net selling price by filling out the Estimate Your Home Sale Proceeds worksheet.

This list is not all-inclusive.  Conversely, you may not incur all the charges you see listed below.  Add other costs you incur in the appropriate "Other" box below.

We at do our best to ensure the accuracy of these worksheets. Nevertheless, you should confirm these calculations with a financial advisor before relying on them.

What was the original purchase price of your home?

Add: Fees you paid when you purchased your home
Add: Home improvements you have made, such as
Room Additions
Plumbing Fixtures
Lighting Fixtures
Other Improvements
Add: Fix Up Expenses Within 90 Days of Sale
Other Fixup Items
Less: Casualty losses you deducted on a previous tax return
Money you received for property easements
Depreciation you took as a tax deduction
Deferred profit on a previous home sale
Other Subtractions
Subtotal-Other Subtractions
Equals     Your Property Basis
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