cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
kivacin
Level 4
posted
‎May 14, 2022 05:06 PM
last updated ‎May 14, 2022 5:06 PM

Principal Residence Exemption

When a couple sells their property and are claiming it 50/50 as Principal Residence Exemption, do I just report on one of their tax returns or do I report it on both?  Asking because, when I put it on both with the 50/50 designation, the program asks me about multiple houses, so I need to be sure I'm doing this correctly.  Thanks in advance!

 

Solved
Labels:
Reply Join the conversation
Best answer May 15, 2022
Solved

Best Answers
JamesCampbell
Level 5
‎May 15, 2022 05:23 PM

Principal Residence Exemption

you claim it on one but put 50/50. the program will fill in the other one but you will have to put how many years on the T2091 for both. hope this helps.  

View solution in original post

Reply Join the conversation
2 Comments 2
JamesCampbell
Level 5
‎May 15, 2022 05:23 PM

Principal Residence Exemption

you claim it on one but put 50/50. the program will fill in the other one but you will have to put how many years on the T2091 for both. hope this helps.  

Reply Join the conversation
kivacin
Level 4
‎May 15, 2022 05:34 PM

Principal Residence Exemption

Absolutely it helps!  Thanks so much!

Reply Join the conversation