Troubleshooting

Hi @krobertsonk0 

 

Reviewing your question, you are mostly correct in your statements.

 

  • Deemed disposition would be at the time of change of use. You would need some form of documented FMV (e.g. a realtor assessment, not a municipal tax assessment) to support using this for your ACB calculation
  • Legal and other transfer fees for the SALE of the property can be applied (I don't believe you would have had any fees associated with the change of use from principal residence to rental property)
  • In terms of T2091 worksheet/form, if you complete the Principal Residence questions in TurboTax it will include these forms as part of your filing, no need to complete and file separately.

 

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