topic do you need to use the self employed tax return if you had a sale of a building? or can you use the deluxe in Self-employed https://turbotax.community.intuit.ca/community/self-employed/discussion/do-you-need-to-use-the-self-employed-tax-return-if-you-had-a-sale-of-a-building-or-can-you-use-the/01/3827761#M17513 Tue, 10 Mar 2026 15:04:19 GMT carlleencole 2026-03-10T15:04:19Z do you need to use the self employed tax return if you had a sale of a building? or can you use the deluxe https://turbotax.community.intuit.ca/community/self-employed/discussion/do-you-need-to-use-the-self-employed-tax-return-if-you-had-a-sale-of-a-building-or-can-you-use-the/01/3827761#M17513 Tue, 10 Mar 2026 15:04:19 GMT https://turbotax.community.intuit.ca/community/self-employed/discussion/do-you-need-to-use-the-self-employed-tax-return-if-you-had-a-sale-of-a-building-or-can-you-use-the/01/3827761#M17513 carlleencole 2026-03-10T15:04:19Z Re: do you need to use the self employed tax return if you had a sale of a building? or can you u... https://turbotax.community.intuit.ca/community/self-employed/discussion/re-do-you-need-to-use-the-self-employed-tax-return-if-you-had-a-sale-of-a-building-or-can-you-u/01/3829166#M17516 <P>It depends on how you used the building while you owned it.</P> <P>&nbsp;</P> <UL> <LI>You only need to report the sale on Schedule 3 to claim the principal residence exemption. Deluxe handles this.</LI> <LI>You need to calculate <STRONG>Capital Gains</STRONG> and <STRONG>Recapture</STRONG> (repaying previous tax breaks). Premier vesrsion has the specific "Rental" interview to help with this.</LI> <LI>This is a business asset sale. To report the sale as part of your business activities, use the Self-Employed version (Form T2125).</LI> </UL> <P>&nbsp;</P> <P>Thank you for choosing TurboTax.</P> <P>&nbsp;</P> <P>&nbsp;</P> Tue, 10 Mar 2026 23:40:04 GMT https://turbotax.community.intuit.ca/community/self-employed/discussion/re-do-you-need-to-use-the-self-employed-tax-return-if-you-had-a-sale-of-a-building-or-can-you-u/01/3829166#M17516 TurboTaxAniqua 2026-03-10T23:40:04Z