Repossession of Real Property Calculator
Determine the gain, loss and new basis for repossessed real property.
What This Number Means
Your calculated gain or loss is only one part of the decision. Before you report it, consider:
The gain or loss recognized on the repossession
What your new basis in the real property will be
How prior payments received affect the result
Whether limits on recognized gain for real property apply
How this affects your overall tax position for the year
How to Use This Calculator
1
Enter the original sale details: Add the sale price and your basis in the real property.
2
Add payments received: Input the payments collected before repossession.
3
Enter repossession costs: Add legal fees and other costs of reclaiming the property.
4
Review gain, loss, and new basis: See the recognized gain or loss and your adjusted basis going forward.
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