Did you file Form T664?

Use Form T2091(IND) to calculate the capital gain if you sell, or are considered to have sold, a property for which you or your spouse or common-law partner filed Form T664 or T664(Seniors), Election to Report a Capital Gain on Property Owned at the End of February 22, 1994, and one of the following situations apply:

  • The property was your principal residence for 1994
  • You are designating the property in 2018 as your principal residence for any tax year

Use Form T2091(IND)-WS, Principal Residence Worksheet, to calculate a reduction due to the capital gains election. In this case, if the property was designated as a principal residence for the purpose of the capital gains election, you have to include those previously designated tax years as part of your principal residence designation in 2018.

Note

If, at the time of the election, the property was designated as a principal residence for any tax year other than 1994, you can choose whether or not to designate it again as your principal residence when you sell it or are considered to have sold it. Remember, if you choose to designate it again, you have to include those previously designated tax years as part of your principal residence designation in 2018.

If the property was not your principal residence for 1994 and you are not designating it in 2018 as your principal residence for any tax year, do not use Form T2091(IND) and Form T2091(IND)-WS to calculate your capital gain. Instead, calculate your capital gain, if any, in the regular way (proceeds of disposition minus the adjusted cost base and outlays and expenses). For more information on how to calculate your adjusted cost base as a result of the capital gains election, see Property for which you filed Form T664 or T664(Seniors) .

Completing your T2091(IND)-WS

Enter the amount from line 66 of Form T2091(IND)-WS, on line 55 of Form T2091(IND) or Form T1255.

Report a problem or mistake on this page
Please select all that apply:

Thank you for your help!

You will not receive a reply. For enquiries, contact us.

Date modified: