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timc

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Posts posted by timc

  1. I made a change to my 2020 return, the only change was to create a disposition of a principal residence property.  There is no change in the tax assessment (nor would I expect there to be)...I just wanted to doublecheck that UFile resubmits the Schedule 3 and includes the T2091 form in the ReFile package, as there is no way to tell from CRA's Notice Of Assessment whether it knows about this change.

  2. I had moved out of one home (House A) in 2020, and into another (House B). I rented out House A.  In 2022, I sold the House A.

    For my principal residence designation, I'd like to do the following:

    2019 - House A

    2020 - House A and B (the plus one rule)

    2021 - House B

    2022 - House B

    I need to report the sale of House A in 2022.  The "Number of tax years ending after acquisition date" would be 3 (2020 - 2022). 

    But I can't seem to get UFile to properly assign the "plus one rule".  If I Designate 2020 as the principal residence, UFile will give me one extra year in T2091 (a total of 2 principal residence years), meaning I'd get a capital gain of 1/3 of the total capital gain.  But if I don't designate 2020 as the principal residence (ie. I leave that section blank), the line 20 of T2091 (Line 4 plus 1) is set to 0, and I'm on the hook for the entire capital gain.

    Could someone help me understand how to set this?

  3. I was refiling my 2020 return, so I made my changes, and then turned on the Federal Refile Mode option, and then refiled with CRA.  I realize now in reading the instructions more carefully that the step to enable the Refile mode is before the step to make changes. Does the order make a difference? In other words, does turning on Federal Refile Mode enable some kind of Track Changes, such that only changes made after that point are submitted?

    Tim

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