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Karen K1
Level 2

T1 - How do I record a deferred capital gain on replacement real estate property

T1 - How do I record a deferred capital gain on replacement real estate property.

Can someone provide me with step by step instructions on how to record this?  Thank you!

1 Comment 1
MikeACGA
Level 3

T1 - How do I record a deferred capital gain on replacement real estate property

Have a look at ITA s.248(1) "former business property" and see if it fits your situation. You might discover that what you are trying to do is not legal. IT-491 might also assist.