Principal residence and other real estate
When you sell your home, you may realize a capital gain. If the property was your principal residence for every year you owned it, you do not have to report the sale on your income tax and benefit return.
On October 3, 2016, the Government announced an administrative change to the Canada Revenue Agency’s reporting requirements for the sale of a principal residence. For more information, go to Reporting the sale of your principal residence for individuals (other than trusts).
Forms and publications
- Guide T4002, Business and Professional Income
- Form T2091(IND), Designation of a Property as a Principal Residence by an Individual (Other Than a Personal Trust)
- T2091(IND)-WS, Principal Residence Worksheet
- Form T1255, Designation of a Property as a Principal Residence by the Legal Representative of a Deceased Individual
- S1-F3-C2, Principal Residence
- TI-001, Sale of a residence by an owner builder
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