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kivacin
Level 5
May 15, 2022
Solved

Principal Residence Exemption

  • May 15, 2022
  • 1 reply
  • 8 views

When a couple sells their property and are claiming it 50/50 as Principal Residence Exemption, do I just report on one of their tax returns or do I report it on both?  Asking because, when I put it on both with the 50/50 designation, the program asks me about multiple houses, so I need to be sure I'm doing this correctly.  Thanks in advance!

 

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Best answer by JamesCampbell

you claim it on one but put 50/50. the program will fill in the other one but you will have to put how many years on the T2091 for both. hope this helps.  

1 reply

J
JamesCampbellAnswer
Level 6
May 16, 2022

you claim it on one but put 50/50. the program will fill in the other one but you will have to put how many years on the T2091 for both. hope this helps.  

    K
    kivacinAuthor
    Level 5
    May 16, 2022

    Absolutely it helps!  Thanks so much!

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