Get Affidavit Of Seller's Gain

Filling out the Affidavit Of Seller's Gain online is a straightforward process that can help sellers establish their gain from the sale of real property. This guide will provide clear and concise instructions, ensuring you complete the form accurately and efficiently.

Follow the steps to successfully fill out the Affidavit Of Seller's Gain.

1. Click ‘Get Form’ button to obtain the Affidavit Of Seller's Gain and open it in the editor.
2. Enter the seller’s name in the designated field at the top of the form. This should be the full name of the individual or entity selling the property.
3. Input the seller’s identification number, which may be either the Social Security Number (SSN) or the Federal Employer Identification Number (FEI). Ensure this is accurate to avoid future issues.
4. Fill in the street address where the seller resides. This is important for identification and contact purposes.
5. If applicable, enter the spouse’s identification number if the property is jointly owned. This is necessary for proper classification of the ownership.
6. Complete the city, state, and ZIP code fields under the address section. This ensures the form is fully processed in the appropriate jurisdiction.
7. In the SALES PRICE field, input the total price for which the property has been sold. This figure is crucial for calculating the seller's gain.
8. Next, in the COST BASIS INCLUDING IMPROVEMENTS field, enter the total amount spent on acquiring the property plus any improvements made. This helps to accurately assess your taxable gain.
9. Record the depreciation amount in the designated field. If you have claimed any depreciation on the property, ensure this is calculated correctly.
10. Calculate the ADJUSTED COST BASIS by subtracting the depreciation from the total cost basis entered earlier. Input this amount into the form.
11. In the SELLING EXPENSES section, list any costs associated with the sale, such as commissions or fees paid to agents. This will also affect your taxable gain.
12. Finally, calculate the NET TAXABLE GAIN (LOSS) by taking the sales price and subtracting both the adjusted cost basis and selling expenses. Enter the final amount in this field.
13. Once all fields are accurately filled, sign and date the document where indicated. If applicable, include your title.
14. Save your changes, then download, print, or share the completed Affidavit Of Seller's Gain as required.

Complete your Affidavit Of Seller's Gain online today to streamline your property sale process.