### Question
How is the "adjusted sales price" defined?


### Answer
The term **adjusted sales price** is defined in *26 U.S.C. § 1034* as follows -

> the amount realized, reduced by the aggregate of the expenses for work performed on the old residence in order to assist in its sale

#### Citation:
  - *26 U.S.C. § 1034*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter O-Gain or Loss on Disposition of Property > PART III-COMMON NONTAXABLE EXCHANGES**

