Qualified farm property includes land, buildings, capital stock in family-farm corporations, interest in family-farm partnerships, and capital property such as milk or egg quotas. Qualified fishing property includes land, sea vessels, and eligible capital property such as fishing licenses.
Following are the instructions for how to claim it:
Before you begin, be sure to calculate your proceeds of disposition and adjusted cost base
Please follow the steps below:
For more related information, please read our TurboTax articles:
Claiming the Lifetime Capital Gains Exemption (LCGE)
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