What does this question mean "For any property (or right to acquire a property) you sold, did you own it for less than 365 days before selling it?"

I bought a pre-construction condo unit 5 years ago, when it closed early last year I sold it in 3 months. How do I report?

427

Intuit Alumni

Feb 22, 2024 9:09:03 AM

Because of the new rules, you may wish to contact the Canada Revenue Agency (CRA) for clarification about your situation at 1-800-959-8281

The CRA has this link: How to report real estate sales but does not mention the new property flipping rule which this question relates to.

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