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What paper work do i need for capital gains? Vacant land sale?

Brother and I were given a piece of land in 2017. We sold the land in 2018- 9 months later. What paper work will i need to claim capital gains? Can i use the standard tax package? or this there another one that you would recommend. Please Help!!

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What paper work do i need for capital gains? Vacant land sale?

You can use the Standard version of TurboTax to claim your Capital Gains. If you feel you need a little more guidance you can always upgrade while preparing your return.

For the paperwork involving your property, although you do not need to submit anything at the time of filing, you do need to have the documentation available if CRA requests to see it.

When you acquire a property you are deemed to have acquired it at its Fair Market Value (FMV). Although many people do not do this, you can avoid headaches by obtaining a legally convincing estimate of FMV (for example, a signed letter from an experienced appraiser) when you first acquire it.  The reason is that you may someday have to pay capital gains tax on the asset if you decide to sell it, and the value at the time of acquiring the asset will be key in calculating how much tax you owe.

If no appraisal was done and you do not know what the value of it was, you may have to do a little detective work to find what the FMV was. Without proof of the fair market value, you may be forced to accept the Canada Revenue Agency’s estimate of its value, which could work against you if their estimate is low. As the registered owner, you should be able to access historical property assessment records or tax notices. This is not always the most accurate method if the home had improvements have been done, but it gives you a good basis. Also if you can find what similar properties were selling for in that area at the same time it will also help. 

For the sale of the property, of course, your legal documents from the sale will suffice.