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June 1, 2019
Question

Do I use the "cash to seller" number from my Closing Disclosure Statement as the net proceeds number on second home sale information?

  • June 1, 2019
  • 1 reply
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We sold a second home last March 2016 (personal use only) I never received a 1099-S.  I do have a Closing Disclosure Statement which lists:Due to Seller at Closing minus Due from Seller at Closing = Cash to Seller.   Do I use this # in the Net Proceeds box under second home sale information?


1 reply

Employee
June 1, 2019

No, in general the Net Proceeds amount will be the Sales Price minus the selling expenses (ex: commission to realtor).

https://www.redfin.com/definition/net-proceeds

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