[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-303611-105":53,"doc-detail-303611-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","how-to-compute-gain-or-loss-worksheet","How to Compute Gain or Loss Worksheet","","Gain or loss on the sale of a home is computed using a worksheet with the same core steps for single-family homes, condominiums, mobile homes, and other home types. The worksheet covers how to determine sale price, identify selling expenses, and calculate amount realized as sale price minus selling expenses. It also explains how to determine total basis, including amounts paid, settlement and closing costs, qualifying taxes, construction/renovation improvements still part of the home, and special assessments. Filing status and shared ownership allocation rules are included.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/how-to-compute-gain-or-loss-worksheet/303611/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/how-to-compute-gain-or-loss-worksheet/303611.png","ImageObject",442,249,{"name":88,"@type":89},"Emma Wilson","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-26","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":76},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"How does filing status affect calculating gain or loss amounts?","Question",{"text":108,"@type":109},"If filing Married Filing Jointly, compute gain or loss for both taxpayers together. If not filing jointly (or owners aren’t married), determine gain or loss for each person, splitting results for joint 50/50 ownership or allocating based on each owner’s percentage.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What payments should be included when determining the sale price?",{"text":113,"@type":109},"Include money received for selling the home and the fair market value of other property or services received. Also include the value of notes, mortgages, or other debts the buyer assumes, real estate taxes paid by the buyer for the taxpayer, and amounts received for granting an option that was exercised.",{"name":115,"@type":106,"acceptedAnswer":116},"Which costs count as selling expenses on the worksheet?",{"text":117,"@type":109},"Selling expenses include sales commissions, advertising fees, legal fees, mortgage points or other loan charges typically paid by the buyer, and other fees or costs directly associated with selling the home.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},303611,1790215511,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":76,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":76,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":9},3848291630094,"https://eur-avatar.wpscdn.com/davatar_085a072bc5b1113ac321206ff7593b45","How to Compute Gain or Loss Worksheet  \nThe process is the same for single family homes, condominiums, mobile homes, and all other types of homes.  \n• If Married Filing Jointly, compute gain or loss for both taxpayers together.  \n• If not filing jointly, or if there are two owners who are not married, determine a gain or loss amount for each individual. If ownership is joint, or is shared 50/50, the amount for each individual is half of the final gain or loss result from this worksheet. If ownership is divided according to different percentages, each owner’s amount is the gain or loss result from this worksheet multiplied by his or her ownership percentage.  \n• If the taxpayer used any portion of the property for business or rented it out, go to Determine If the Taxpayer Has a Taxable Gain, next page.  \n1) Determine the sale price. This is everything the taxpayer received for selling his or her home.  \n1a) All money (currency, check, wire transfer) ........................................................................................................................... 1a)   1b) The fair market value of any other property or services received........................................................................................ 1b)   1c) The value of any notes, mortgages, or other debts that the buyer agreed to assume (take over) as part of the sale........ 1c)   1d) Any real estate taxes the buyer paid on the taxpayer’s behalf ............................................................................................. 1d)   1e) Any amount received for granting an option to buy the home, if the option was exercised................................................ 1e)   1f) Add lines 1a through 1e. This is the sale price ..................................................................................................................... 1f)    \n• If payment received for personal property, do not include it in the sale price (examples: furniture, draperies, rugs, washer and dryer, and lawn equipment) .  \n• If payment received or reimbursement from an employer because of a job transfer, do not include the payment as part of the selling price. The employer will include it as wages in box 1 of the taxpayer’s Form W-2 .  \n• If Form 1099-S was received, the gross proceeds for the sale price should appear in box 2. If box 4 is checked, the sale price included non-cash payments, and the taxpayer needs to determine the value of these and add them to the amount in box 2.  \n• If Form 1099-S was not received, refer to the real estate transaction documents for the total amount received for the home.  \n2) Determine the selling expenses. These are the costs directly associated with selling the home.  \n2a) Any sales commissions (for example, a real estate agent’s sales commission) ................................................................... 2a)   2b) Any advertising fees............................................................................................................................... ................................ 2b)   2c) Any legal fees ............................................................................................................................... ......................................... 2c)   2d) Any mortgage points or other loan charges paid that would normally have been the buyer’s responsibility...................... 2d)   2e) Any other fees or costs to sell the home............................................................................................................................... 2e)    2f) Add lines 2a through 2e. These are the selling expenses .................................................................................................... 2f)   \n 3) Calculate the “amount realized”(sale price minus selling expenses). Line 1f minus line 2f ............................................. 3)   \n4) Determine the “total basis”(the total amount invested in the home). This includes what was ","cbCailUepzVMz3lE","https://ap.wps.com/l/cbCailUepzVMz3lE","pdf",58592,"English","# Compute Gain or Loss\n## Determine the sale price\n## Determine the selling expenses\n## Calculate the amount realized\n## Determine the total basis","[{\"question\":\"How does filing status affect calculating gain or loss amounts?\",\"answer\":\"If filing Married Filing Jointly, compute gain or loss for both taxpayers together. If not filing jointly (or owners aren’t married), determine gain or loss for each person, splitting results for joint 50/50 ownership or allocating based on each owner’s percentage.\"},{\"question\":\"What payments should be included when determining the sale price?\",\"answer\":\"Include money received for selling the home and the fair market value of other property or services received. Also include the value of notes, mortgages, or other debts the buyer assumes, real estate taxes paid by the buyer for the taxpayer, and amounts received for granting an option that was exercised.\"},{\"question\":\"Which costs count as selling expenses on the worksheet?\",\"answer\":\"Selling expenses include sales commissions, advertising fees, legal fees, mortgage points or other loan charges typically paid by the buyer, and other fees or costs directly associated with selling the home.\"}]","How to Compute Gain or Loss Worksheet | PDF",1789805704]