Calculating sale profits

[Johnnie Fedora]

When you sell a contract, how do you calculate proceeds for tax purposes. Do broker commissions get deducted from the profits?

 

[Darkside]

Yes,
You only pay taxes on income you recieve. Broker fees, etc. are the costs associated with processing the sale.

 

[Deb & Bill]

Another question, is the final sales price for the time share similar to the basis for a house sale? In other words, you can reduce your gains by they other fees/etc that you have paid during the course of ownership?