T2091 reporting of Sale of property

Forum|Forum|5 years ago
April 15, 2021
1 reply
2 views

The husband and wife had a property jointly which was sold last year 2020,
For the number of years 17 they owned the property they live in 5 years only.

I have filled the T2019 and it shows the amounts on both spouses, but the outlays and expenes are not being split and all the capital gain is coming to one spouse only on S3, where instead of showing the half of the sale amount it is showing full sale amout. and the final proceeds.
please guide on how to do it correctly so that the T2019 splits the capital gain on both tax returns , or do I have to do this manually ?

ProFile (Canada)

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T

Tallen13

Level 2

I have the same situation and the same question/problem. Following to see the answer

N

NQ77Author

Level 2

here is the solution

put the percentages on the details, this will split the proceed amount as per the percentages.

you will have to get the number of years rented and number of years principal residence.

Now calculate the acb and the expenses seperately on excel and create a split based on the percentages.

Will need to manually plug in the rest on the T2091. and check the s3 it will also show the partners portion of capital gain.

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