Jump to content
Sign in to follow this  

Capital Gains on Co-ownership incorrectly reporting

Recommended Posts

Hi. I have an investment property that I co-own with my wife. We sold the property. Let us say that Sale Value is $100,000. ACB is $60,000 and Expenses are $5,000. Capital Gains on sale of the depreciable property are $35,000.

Taxable Capital Gains should be 50% of $35,000 i.e., $17,500. Since, I and my wife are co-owners, I was expecting that the software will show $8,500 each for me and my wife.

However, the software is showing the  capital gains of $17,500 each for me and my wife in Line 127 - it just doubled up. 

How do I fix this?

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

© 2013 ImpôtExpert, Thomson Reuters. Tous droits réservés. Politique de confidentialité
  • Create New...