On the other hand, the amount you receive at closing is the sales price less the closing costs less the amount owed on the home. Capital gain has nothing to do with how much is owed on the home. So to compute capital gain you need to know the amount realized on the sale and the adjusted basis of the asset sold.The amount realized is the selling price less the selling expenses.apital gain has nothing to do with how much is owed on the home. So to compute capital gain you need to know the amount realized on the sale and the adjusted basis of the asset sold. The amount realized is the selling price less the selling expenses.
On October 22, 1986President Reagan signed into law the Tax Reform Act of  1986. Among its provisions, the law required that every dependent age 5 or older listed on a tax return had to have their own Social Security number. This new requirement doubled SSA's enumeration workload in the following year.
The presidency has defended a decision by Jacob Zuma to sign all tax legislation from 2015 into law. The president has given the go ahead for the implementation of the 2015 Tax Laws Amendment Act and the Tax Administration Laws Amendment Act, which will come into effect on 1 March 2016. News24 noted that usually the presidency announces through an email to the media and also on its website when a legislation has been signed into law.