topic Why is TurboTax asking for ACB in principle residence exemption (i.e. property is PR for all years owned)? This is only needed if box 2 &amp;amp; 3 of Schedule 3 is ticked off. in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/why-is-turbotax-asking-for-acb-in-principle-residence-exemption-i-e-property-is-pr-for-all-years/01/909465#M2553 Wed, 30 Oct 2019 14:21:37 GMT soniabove 2019-10-30T14:21:37Z Why is TurboTax asking for ACB in principle residence exemption (i.e. property is PR for all years owned)? This is only needed if box 2 &amp; 3 of Schedule 3 is ticked off. https://turbotax.community.intuit.ca/community/investments-rentals/discussion/why-is-turbotax-asking-for-acb-in-principle-residence-exemption-i-e-property-is-pr-for-all-years/01/909465#M2553 Wed, 30 Oct 2019 14:21:37 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/why-is-turbotax-asking-for-acb-in-principle-residence-exemption-i-e-property-is-pr-for-all-years/01/909465#M2553 soniabove 2019-10-30T14:21:37Z The Designation of Principal Residence form, T2091 from C... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/the-designation-of-principal-residence-form-t2091-from-c/01/909466#M2554 <P>The Designation of Principal Residence form, T2091 from CRA requires the amount for ACB.</P> Wed, 30 Oct 2019 14:21:38 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/the-designation-of-principal-residence-form-t2091-from-c/01/909466#M2554 TurboTax-Terry 2019-10-30T14:21:38Z Thanks for the response but look at the top of T2091 wher... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/thanks-for-the-response-but-look-at-the-top-of-t2091-wher/01/909467#M2555 Thanks for the response but look at the top of T2091 where it says, "If you ticked either box 2 or 3 at line 179 of Schedule 3, you must complete the remainder of this form that is applicable to your particular situation." If you designated the property as a principal residence for all years owned, then you would be ticking box 1 on Schedule 3 negating the need to fill out the capital gain section on T2019. I looked at other tax softwares (i.e. Simple Tax) online, and they seem to have it correctly. I don't know how to tell TurboTax that they have a mistake in their software. Wed, 30 Oct 2019 14:21:40 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/thanks-for-the-response-but-look-at-the-top-of-t2091-wher/01/909467#M2555 soniabove 2019-10-30T14:21:40Z Will certainly pass along your comments regarding the req... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/will-certainly-pass-along-your-comments-regarding-the-req/01/909468#M2556 Will certainly pass along your comments regarding the requirement in Turbo Tax for the additional information not required on the T2019 for your circumstance. Thank you for bringing this to our attention. Our software is updated throughout the tax season on an ongoing basis. Wed, 30 Oct 2019 14:21:41 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/will-certainly-pass-along-your-comments-regarding-the-req/01/909468#M2556 TurboTax-Terry 2019-10-30T14:21:41Z
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topic Why is TurboTax asking for ACB in principle residence exemption (i.e. property is PR for all years owned)? This is only needed if box 2 &amp;amp; 3 of Schedule 3 is ticked off. in Investors and rental owners
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Why is TurboTax asking for ACB in principle residence exemption (i.e. property is PR for all years owned)? This is only needed if box 2 &amp; 3 of Schedule 3 is ticked off.
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<P>The Designation of Principal Residence form, T2091 from CRA requires the amount for ACB.</P>
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Thanks for the response but look at the top of T2091 wher...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/thanks-for-the-response-but-look-at-the-top-of-t2091-wher/01/909467#M2555
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Thanks for the response but look at the top of T2091 where it says, "If you ticked either box 2 or 3 at line 179 of Schedule 3, you must complete the remainder of this form that is applicable to your particular situation." If you designated the property as a principal residence for all years owned, then you would be ticking box 1 on Schedule 3 negating the need to fill out the capital gain section on T2019. I looked at other tax softwares (i.e. Simple Tax) online, and they seem to have it correctly. I don't know how to tell TurboTax that they have a mistake in their software.
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Will certainly pass along your comments regarding the req...
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Will certainly pass along your comments regarding the requirement in Turbo Tax for the additional information not required on the T2019 for your circumstance. Thank you for bringing this to our attention. Our software is updated throughout the tax season on an ongoing basis.
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