Sale of a secondary dwelling
To enter the sale of your secondary residence, follow the steps
below.
1. On the "Left-side menu on the Interview
tab", select the topic "Interview
setup".
2. On the screen to your right, go to the "Investment
income and expenses" group and check the box
"Capital gains (or losses) and capital gain
history" and click on "Next" at the
bottom of the page.
3. Go back to the "Left-side menu on the Interview
tab" and select the "Capital gains and
ABIL" section.
4. On the page appearing on the right, click on
the plus sign "+"
icon located on the right of the line "Personal use
property (including principal residence)".
5. On the page titled "Personal Use Property",
enter the necessary information, for example on the line for
"Description of the property", enter
"Secondary residence" and answer all the
questions.
6. If you are a co-owner of the property, go to the line
"Your percentage share of capital gain/loss recorded
here" and enter your share in the field on the right.
7. On the following line, if your spouse was co-owner of the
property with you and you wish to transfer his gain or loss to him,
indicate it by selecting "Yes" in the box to your
right. Of course, in this case it is necessary that your spouse's
tax return is processed with yours.
The amount of the capital gain will be reported by the program
on line 127 of the federal return and, for Quebec residents, on
line 139 of the Quebec return.
If you have suffered a loss, both the federal and the Quebec
notices of assessment will mention it.
ID: 20190402075242DEX.xml
Webpage: KPA330-20190402075242DE.htm
