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Investors and rental owners
Hey there
I've been fighting with this part for days now. There simply isn't enough fields to enter everything required to get a correct answer.
On the normal long-form cra forms, they ask for the disposition (sale price), the ACB (what you paid originally plus fees), and also the other factors in the sale (mortgage repayment, realtor fees, legal fees, paying out a spouse etc) and then you subtract that from the disposition.
They don't allow for modification of the disposition on turbo tax, so whatever you set the disposition for, is split by percent of ownership.
(Mine was 288k, 50/50 ownership, it set my proceeds as 144k, but I only actually got 30k)
I called the CRA and explained it, and they basically said "based on what the fields are asking for, you're filling it out correctly.. but based on what you're telling me, it's not calculating correctly, so I think there's information required that is missing on the software".
So idk. Best of luck to you, but you're not insane. Whoever designed this new section for 2023 did not do it very well.