How do you claim the life-time capital gains exemption

[Kyle_12]

If you disposed of qualifying property such as small business corporation shares and qualified farm and fishing property, you could be entitled to the Lifetime Capital Gains Exemption. To claim the exemption, you will need to fill out Form T657, Calculation Of Capital Gains Exemption.

To do so, you will need to know your, proceeds of disposition (the price you sold the property for plus any fees associated with the sale),  adjusted cost base (the price you paid for the property plus any improvements that you made), and any exemption you may have used in the past. If you don't know this information you can contact CRA as they will be able to provide you with this information. 

For more information on the Lifetime Capital Gains Exemption, see the links below:

TurboTax - Claiming the Lifetime Capital Gains Exemption (LCGE) 

CRA - Lifetime Capital Gains Exemption 

[Peterules2021]

I have already claimed the exemption in a previous tax year, and now Turbotax is claiming it again, where to I select the option for non-eliglble shares?

[Peterules2021]

I solved it, it was in the check boxes that needed to be unchecked.  I had entered the amounts from previous years, but it didn't occur to me that the amounts entered wouldn't override that entry.

One item that really should be integrated into the easy step program, is an override directory.  They need to link the forms back to the easy step points that could give options to the user to find where the enrty point on the override, could be addressed in the easy step process, I had to check and uncheck boxes until I was able to enter the line that needed to be completed in the forms.