Hi Brenda,
Interestingly, I just started a completely clean tax return - from scratch, as if I were a newborn baby. I then told Turbotax that the only thing I did in 2023 was sell my house (no income, no nothing). I then went to the sale of principal residence section, put in all my details for my house, and it spit out exactly the right answer that I was expecting - the same answer I got by filling out CRA's form T2091(Ind) manually.
So, there is something about my previous tax situation or the data I have put into other areas of my 2023 return which are affecting how TurboTax is calculating my capital gains from selling our house. Which is weird, since it should be a stand-alone calculation, as far as I understand (and clearly there is something I am not understanding).
To answer your question, we bought the property in 2014. It was rented from the summer of 2015 to the summer of 2018 when we moved back into it, then we sold it in 2023. So, We owned it for 9 years and lived in it for 6. CRA lets you claim the year you moved out as a principal residence year, so that means we can claim the personal residence exemption for 7 of the 9 years.
