How does a beneficiary claim a deceased persons sale of house after death

mentors · ‎September 18, 2020

What for do I use to claim house sold after death by the beneficiary

ProFile Duncan · ‎September 21, 2020

Hi, thank you for using Intuit ProFile Community

Have a look a form T1255: this is the form a legal representative would use to report the disposition of a principle residence on the final tax return for a deceased taxpayer. The form T2091 is used for living taxpayers to report the disposition

Hope this helps

mentors · ‎September 21, 2020

CRA is saying the income was earned after the year of death so they will not accept this income on the final return. They say this type of income should be reported on the T1 of the beneficiary, question is what form do I use to do this; also if their are two beneficiaries who have split the income do they each file and claim only their share on their individual T1? Tahnks for your help

ProFile Duncan · ‎September 22, 2020

Hi, thank you for using Intuit ProFile Community

You should get more details from CRA on who needs to report the sale and how to report it. ProFile has the required CRA forms whether this is a capital gain or some other source of income.

Hope this helps