Investors and rental owners
Proceeds of disposition - definition: Usually the amount you received or will receive for your property. In most cases, it refers to the sale price of the property. When you trade in a property to buy a new one, your proceeds of disposition is the amount you receive for the trade-in.
What is adjusted cost base (ACB)?: Adjusted cost base is usually the cost of a property plus any expenses to acquire it, such as commissions and legal fees. Adjustments can include items such as capital expenditures. If you’ve already included this amount in your entry for the adjusted cost base at the time of disposition, leave this field empty. Additional information can be found by visiting the CRA's section on adjusted cost base
Here some screenshots to help you with the instructions.
To enter information about your principal Residence:
For flip property:
On the page where it's asked, We need more information about the property you sold, click YES and make sure nothing is selected. If you have selected None of these apply, please uncheck answer NO and click continue.
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