topic Principal residence in Troubleshooting

Principal residence

Dawburg — Sat, 29 Mar 2025 15:47:45 GMT

Hello I have a question concerning a change of principal residence. I have bought and designated my principal residence in Victoria BC. I also still own my old principal residence in Ontario. Do I need to mark that I "sold" or disposed of my old Ontario residence at fair market evaluated value?

Re: Principal residence

TurboTax_Susan — Sun, 30 Mar 2025 20:13:25 GMT

Are you renting out the property in Ontario?

Re: Principal residence

Dawburg — Sun, 30 Mar 2025 20:16:53 GMT

No not renting it out, we have used it as summer home in 2024 and this year. Will be trying to sell it this year or next.

Re: Principal residence

TurboTaxAniqua — Wed, 02 Apr 2025 13:44:26 GMT

@Dawburg You will report it the year you will sell it.

Re: Principal residence

Dawburg — Wed, 02 Apr 2025 15:14:41 GMT

Thank you so much for answering my question