Gain on Sale of a Home

Gain on the Sale of a Home Use this template to calculate the capital gains tax that may be due on the sale of a personal residence. The template will calculate the tax due on a sale if the new home costs less than the sale price of the old home. Check with your professional advisors as to whether you qualify for and should use the "over age 55" capital gains tax exclusion. Enter data in the unlocked cells provided. To customize the addresses displayed in the template, enter the addresses of the old and new home. To view the template, click the worksheet tab labeled Template at the bottom of the screen or press Ctrl-PgDn. With the exception of data entry cells, all cells are protected. Use the Tab key to move from one unprotected cell to the next. Copyright © KMT Software, Inc. All Rights Reserved.Gain on the Sale of a Home New Address: New Residence Old Address: Old Residence Transaction Facts Sale Price of Old Residence Basis Fixing-up Expenses Commission Rate Sale Price of New Residence Tax Exclusion Amount Realized on Sale Adjusted Sale Price Gain Realized on Sale Gain Calculations Gain Taxable This Year Gain on Which Tax Is Deferred Over 55 Exclusion Claim Exclusion (y/n) Full 125,000 Exclusion No Longer Available Tax Tax Bracket Capital Gains Tax Net Net Available for New Residence Mortgage