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?"

[shunzi96]

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?

[TurboTaxGinette]

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.

Thank you for choosing TurboTax.

[GERRY LAROSE]

WHY IS TURBO TAX GIVING ME AN ERROR WARNING ABOUT SELLING REAL ESTATE LESS THAN 365 DAYS AFTER BUYING IT WHEN I NEVER SOLD ANY REAL ESTATE IN THE LAST 40 YEARS AND I DID NOT ANSWER ANY QUESTIONS SAYING I DID.... I SUBMITTED MY RETURN TO CRA THEN I GOT AN IMMEDIATE REPLY FROM CRA THAT MY RETURN WILL BE ON HOLD FOR UP TO 60 DAYS DUE TO POSSIBLE CAPITAL GAINS REVIEW !!

I THEN WENT TO RE-FILE MY RETURN WITH CRA BUT I CANNOT DO THIS SINCE I KEEP GETTING THIS ERROR WARNING ABOUT SELLING REAL ESTATE WHICH I NEVER SOLD...PLEASE PROVIDE A QUICK REPLY  THANK YOU ,....GERRY LAROSE    TEL: [phone number removed]

[GERRY LAROSE]

THE ISSUE IS NOT WITH CRA, THE ISSUE IS WITH THIS INTUIT TAX PROGRAM.  I NEVER ENTERED ANY INFO STATING THAT I SOLD ANY REAL ESTATE BUT THIS PROGRAM IS GIVING ME ERROR WARNING MESSAGE TO FIX THIS ERROR BY GOING BACK AND CORRECTLY ANSWER IF I SOLD ANY REAL ESTATE WITHIN 365 DAYS OF PURCHASING IT.  I VERIFIED ALL MY ANSWERS FOR 6 TIMES AND CANNOT FIND ANYWERE THAT STATES I SOLD ANY REAL ESTATE !!!  I'M STILL ON HOLD WITH MY PHONE CALL WITH THE CRA....THE NETFILE I SUBMITTED TO CRA THIS MORNING IS NOT ACCURATE DUE TO THIS INTUIT ERROR AND I NEED TO CLARIFY WITH THEM THAT I CANNOT REFILE DUE TO A GLITCH IN THE INTUIT PROGRAM I'M USING.  THEY NEED TO KNOW THAT I DID NOT SELL ANY REAL ESTATE AND I SHOULD NOT BE SUBJECT TO CAPITAL GAINS REVIEW BY THEM.  PLEASE REPLY ASAP ON HOW TO FIX THIS INTUIT ISSUE.  THANKS...GERRY 

[TurboTaxAniqua]

You have to wait until you get a Notice of Assessment from CRA. You can Refile / Amend your return after that by adding amended T4.

Refer to TurboTax article to follow steps: I've filed my tax return. Can I still make changes?

CRA Link: How to change your return

Thanks for the feedback and we appreciate your patience.