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susan83
March 10, 2023
Question

How can I find out the original purchase price of a property my father sold in 2022, I need it for capital gains form?

  • March 10, 2023
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    champ_a_adc
    March 12, 2023

    You can find it in the Sale Contract of the property. You will need the amount you received from disposing of capital property to calculate Capital Gain/Losses. Let’s say you originally purchased your property for $500,000, and it's then eventually sold for $650,000. This second number ($650,000) will be your proceeds of disposition amount.

     

    For more information, visit TurboTax website: What are capital gains and losses 

     

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