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New Member
posted Oct 30, 2019 7:02:49 AM

I am confused - I sold my apartment in Jan 2017 and I need to say adjusted cost base I don't understand what that amount is. Also year of acquisition?

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New Member
Oct 30, 2019 7:02:51 AM

  Year of acquisition is the year you purchased the apartment.  The Adjusted cost base is the price you paid for the apartment and then you would also enter Proceeds of disposition (the amount you sold it for)  There are no tax consequences for disposing of your principle residence if it was your principle residence for all years owned however, it still must be reported on your tax return.