May 25, 2021 7:27 AM
Thank you for choosing TurboTax,
As per CRA, if you sell a rental property for more than it cost, you may have a capital gain.
Follow these steps to enter the selling of your rental property in TurboTax,
- Select the image of the magnifying glass (or Find) in the upper-right area of TurboTax
- Enter “capital” in the Find window
- Select "capital gains and capital gains deduction profile" from the list of results, and then select Go
- Select "Sold stocks, bonds, real estate, other capital property, or sold qualified small business corporation shares and/or qualified farm property and you have a capital gain or loss to report" from the list of results, and then click "Continue"
- Enter the details of your disposition in 2020.