We sold our man residence in sept 2018 and bought ...

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New Member

We sold our man residence in sept 2018 and bought a home (main residence) in oct 2018. started renovations in 2019. how do we claim new home and renovations nd when

 
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Moderator

We sold our man residence in sept 2018 and bought a home (main residence) in oct 2018. started renovations in 2019. how do we claim new home and renovations nd when

What province are you in? Which version of TurboTax are you using? Is it Online or is it the CD/Desktop edition?
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New Member

We sold our man residence in sept 2018 and bought a home (main residence) in oct 2018. started renovations in 2019. how do we claim new home and renovations nd when

we are claiming in Quebec and its on cd/desktop
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Moderator

We sold our man residence in sept 2018 and bought a home (main residence) in oct 2018. started renovations in 2019. how do we claim new home and renovations nd when

You don’t need to claim the purchase of your new home, you only have to report when you sell your principal residence.

Depending on the type on renovations, you may qualify for the RénoVert tax credit, which you can find on the Quebec Credits Profile page (Provincial>Quebec> Quebec Credits Profile). You can read more about the credit here: https://www.revenuquebec.ca/en/citizens/tax-credits/renovert-tax-credit/

You also may qualify for the property tax refund part of the solidarity tax credit. You can find this under Provincial>Quebec>Solidarity Tax Credit.


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