Did you or your spouse or common-law partner file Form T664 or T664 (Seniors)?

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 2023 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 2023.

If the property was not your principal residence for 1994 and you are not designating it in 2023 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 56 of Form T2091(IND) or Form T1255.

Forms and publications

• Guide T4037, Capital Gains
• Form T1255, Designation of a Property as a Principal Residence by the Legal Representative of a Deceased Individual
• Form T2091(IND), Designation of a Property as a Principal Residence by an Individual (Other Than a Personal Trust)
• Form T2091(IND)-WS, Principal Residence Worksheet
• Income Tax Folio S1-F3-C2, Principal Residence