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M
mfarhana
April 1, 2022
Question

HOW WILL I CALCULATE THE ADJUSTED COST BASE AND TOTAL PROCEED DISPOSITION IN THE HOME SALE. I SOLD MY HOME FOR $841000, HOW SHOULD I CALCULATE?

  • April 1, 2022
  • 1 reply
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    1 reply

    T
    Tom_Cheng
    April 1, 2022

    The adjusted cost base (ACB) is usually the cost of a property plus any expenses to acquire it, such as commissions and legal fees.

     

    “Disposition” refers to when you dispose of or get rid of a property. In most cases, the proceeds of disposition is the amount you received for the property.

     

     

    Special rules can sometimes apply, for more information, please click:

    Canada Revenue Agency(CRA) Adjusted cost base (ACB)

    TurboTax Proceeds of Disposition

     

     

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