Primary residence 2006-2020, then it was rental 2020-2024. Sold property 05/2024. Where to find the principal residence exemption calculation on the capital gains?

[rslaney23]

We owned the house for total of 14 years, of which it was a rental for 4 of those years. I do not want to pay capital gains on the full 14 year gain. Bought for 180, sold for 450

[TurboTaxSusan]

Are you using TurboTax Desktop or TurboTax Online? 

[rslaney23]

Yes using Turbo Tax online 

[TurboTaxSusan]

In TurboTax Online, you can just fill out the Principle Residence section, and it will ask you how long your home was your PR to determine how much you need to pay in Capital Gains. 

But, unfortunately, we are still still working on that form, so it's unavailable at the moment. 

[SaraP34]

Any update on when this form will be available???

[TurboTaxSusan]

@SaraP34 

Unfortunately, the forms are still locked. We're working hard to finalize these forms to align ourselves with CRA requirements ASAP. We appreciate your patience.

You can see a list of Forms that still locked here: Why does TurboTax say my forms are locked or haven't been finalized? 

[lpark1]

When will "the sale of principle residence form" be available??

[TurboTaxSusan]

@lpark1 We're working hard to finalize this form to align ourselves with CRA requirements ASAP. We appreciate your patience.

You can see a list of Forms that still locked here: Why does TurboTax say my forms are locked or haven't been finalized?