Primary residence sold

Forum|Forum|1 year ago
March 7, 2025
3 replies
12 views

I am confused about primary residence. My client who is 88, sold his condo that he shared with his wife until her passig, and now lives in a seniors' assisted living residence. He has invested the proceeds into GICs. If I fill out the schedule 3, he owes $66000 + . How do I get around this? He only lives on his CPP, OAS and seniors assistance, and pays $4000 in rent where he lives now. The slip he got from the Seniors residence says he is not eligible to claim any expenses.

ProFile (Canada)

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Best answer by Lowell K

I've run into the same issue. It's a bug between S3, Principal residence detail form, T2091/T1255 forms where the software isn't picking up correct information or is calculating a capital gain/loss from details on the PR form. Will need to wait until S3 (and all corresponding forms) are approved for e-filing and updated a in future software release.

It's beyond frustrating to not be able to finish off otherwise simple returns, simply because they sold their principal residence.

L

ldres1985

Level 4

This problem is fixed in latest release.

Form is still in draft form, Mario is there a estimated time for release of this form, returns are piling up.?

M

Mario B

Level 11

The S3 will be available for EFILE before the end of the month

L

Lowell KAnswer

Level 2

I've run into the same issue. It's a bug between S3, Principal residence detail form, T2091/T1255 forms where the software isn't picking up correct information or is calculating a capital gain/loss from details on the PR form. Will need to wait until S3 (and all corresponding forms) are approved for e-filing and updated a in future software release.

It's beyond frustrating to not be able to finish off otherwise simple returns, simply because they sold their principal residence.

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