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CABCONSULTANTS
Level 1

How do I report principal residence sold in 2020 owned for 13 years of which 3 years rented

How do I report principal residence sold in 2020 owned for 13 years of which 3 years rented ,

Form t2091 does not permit me to allocate the 3 year of 13 years to determine capital gain on the rented years?

1 Comment 1
Ladytax
Level 3

How do I report principal residence sold in 2020 owned for 13 years of which 3 years rented

As it states on the T2091 you indicate "the number of tax years ending after the acquisition date". So if they owned it for 13 years and rented it out for 3 years you are designating 10 years as principal residence.

of course you will need to have the additional information to complete the calculation. Follow the form T2091 and it will calculate it all.