Repossession of Real Property Calculator
If you found it necessary, you may wish to repossess some real property. This ACalculator is determined to find out whether you gain or not in reality. Additionally, this calculator will find out the new basis for this transaction. This realized amount is calculated by adjusting the repossession costs with your actual reportable gain or loss.
- Total Amount Received From Sale Prior To Repossession
- The amount of money you received at the time of giving away the property from the party who possessed the property. In actual sense, this is the amount for what you sold the property.
- Gain Previously Reported, Deferred Or Excluded
- Your reported amount of gain from the sale of this real property. This has direct effect on the gain from repossession.
- Original Basis Used To Determine Gain
- The net balance of the real property after deducting taxes and other deductible expenses at the time of sale.
- Gain On Original Sale
- Amount you gained from the original sale.
- Repossession Costs
- Total costs involved in the real property repossession process.