What is a principal residence?

Your principal residence can be any of the following types of housing units:

• a house;
• a cottage;
• a condominium;
• an apartment in an apartment building;
• an apartment in a duplex; or
• a trailer, mobile home, or houseboat.

A property has to qualify to be a principal residence.

Note
If you filed a capital gains election on your principal residence, you will need the figures from your Form T664 or T664 (Seniors), Election to Report a Capital Gain on Property Owned at the End of February 22, 1994, to calculate your reduction.

Forms and publications

• Guide T4036, Rental Income
• Guide T4037, Capital Gains
• Schedule 3, Capital Gains (or Losses)
• 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
• IT120, Principal Residence

Related topics

• Lines 126 and 160 - Rental income