how do I report sale of rental property

we have reported rental income from this property for the past  years but we have now sold it effective January 2014  Where do enter the sale


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If you have been claiming CCA on the building, you need to show the disposition of the building in that schedule.  You need to separate the sale of the land from the sale of the building.  You can do that by using the property tax notice to get in the ballpark.  If in the past, you entered the entire cost of the property for CCA, you could have a problem.  You cannot claim CCA on land.  You would show the disposition at the lower of cost or proceeds on the T776 real estate rentals.

You will click on Income tab > investments > capital gains > tick the top option and continue.

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