1. If you didn't claim CCA on the property, you can make an election for 4 years so that the property is still considered as your principal residence.
2. The fair market value of the property in the year that it was changed to rental (either after 1 year or 5 years with the election) will be the new purchase price.
3. If you claimed CCA on the property, you will report the sale in the Rental Properties section and in Investment (capital gains/losses). If you didn't claim any CCA on the property, report the gain/loss in the Investment section.
For more info: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...
