Principal residence and other real estate

When you sell your home, you may realize a capital gain. If the property was solely your principal residence for every year you owned it, you do not have to pay tax on the gain. If at any time during the period you owned the property, it was not your principal residence, or solely your principal residence, you may have to report all or part of the capital gain.

If you sold property in 2017 that was, at any time, your principal residence, you must report the sale on Schedule 3, Capital Gains (or Losses) in 2017 and Form T2091(IND), Designation of a Property as a Principal Residence by an Individual (Other Than a Personal Trust). See Sale of a principal residence for more information.


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