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New Member
posted Apr 22, 2022 3:28:25 PM

How do I enter the numbers from form T1243?

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1 Replies
Intuit Alumni
Apr 28, 2022 8:51:59 AM

TurboTax does not have these forms in our software but for your departure tax, you will need to claim it as a capital gain. Here is quoting directly from the CRA - link provided below for more information.

"Departure tax

When you leave Canada, you are considered to have sold certain types of property (even if you have not sold them) at their fair market value (FMV) and to have immediately reacquired them for the same amount. This is called a  deemed disposition  and you may have to report a capital gain (also known as departure tax).

Your property could include the following: shares, jewelry, paintings, or a collection."

Links below from the CRA  

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