havanraj
New Member

How many years/ days that I have to live in my principal residence to get principal residence tax exemption before selling the residence?

I bought a home for my family to live in 2024. If I sell the house after one year of living in it and then sell the house will I get principal residence tax exemption
‎October 19, 2024 10:17 AM
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TurboTaxSusan
Moderator
Moderator

Credits and deductions

You must own your home for 365 consecutive days or more for it to be considered your principal residence. However, there are some exceptions, which you can see on this Canada Revenue Agency (CRA) webpage: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...

 

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‎October 21, 2024 6:24 AM
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