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Meg6
New Member

I answered 'yes' to sold stocks.... real estate...etc. because I sold my home in 2014; however, it was my primary residence. Do I still need to upgrade to Premier?

I checked off that I sold my home, but I did not check off the box that it was not my primary residence. Should I still be upgrading to premier or do I need to go back and change my initial answer to 'no' so that I am not forced to upgrade. Selling my home is the only applicable item in that series of questions. 

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rhino2
New Member

I answered 'yes' to sold stocks.... real estate...etc. because I sold my home in 2014; however, it was my primary residence. Do I still need to upgrade to Premier?

If your home was your primary residence for every year you owned it, and you did not sell anything else to which that question applies, you can go back and change your answer to "no". 

When you sell your home or when you are considered to have sold it, usually you do not have to report the sale on your income tax and benefit return and you do not have to pay tax on any gain from the sale. This is the case if the home was your principal residence for every year you owned it.

If your home was not your principal residence for every year that you owned it, you have to report the part of the capital gain on the property that relates to the years for which you did not designate the property as your principal residence.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/127/rsdnc/dspsng/m...








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1 Reply
rhino2
New Member

I answered 'yes' to sold stocks.... real estate...etc. because I sold my home in 2014; however, it was my primary residence. Do I still need to upgrade to Premier?

If your home was your primary residence for every year you owned it, and you did not sell anything else to which that question applies, you can go back and change your answer to "no". 

When you sell your home or when you are considered to have sold it, usually you do not have to report the sale on your income tax and benefit return and you do not have to pay tax on any gain from the sale. This is the case if the home was your principal residence for every year you owned it.

If your home was not your principal residence for every year that you owned it, you have to report the part of the capital gain on the property that relates to the years for which you did not designate the property as your principal residence.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/127/rsdnc/dspsng/m...