I sold my rental condo and buy another one in 2017, how do I report the capital gain/loss? Is the difference between them the capital gain I should report?
I sold my rental condo and buy another one in 2017, how do I report the capital gain/loss? Is the difference between them the capital gain I should report?
I sold my rental condo and buy another one in 2017, how do I report the capital gain/loss? Is the difference between them the capital gain I should report?
How you report the capital gain or loss depends on the product you are using. However, the capital gain or loss on the property sold is calculated by subtracting the adjusted cost base from the proceeds of disposition. The new asset would not have a capital gain until it is sold.
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