How do I calculate my sales price?

Your sales price is everything you received from selling your home. This includes, but is not limited to, the following:

• All money received (including currency, checks and wire transfers)
• Value of any notes, mortgages or other debts that the buyer agreed to take ownership of as part of the sale agreement
• Real estate taxes the buyer paid for you
• The fair market value of any other property or services you received as part of the sale
• Any amount you received for granting an option to buy your home, if the option was exercised

Don't include payment for personal property (examples: furniture, rugs, washer and dryer and lawn equipment) in the sales price.

If your employer paid or reimbursed you for a job transfer, don't include that amount as part of the selling price. Your employer will include this amount as wages in Box 1 of your W-2.