Sanjeev

Hi Geo, Thanks for the response. This is a copy of the steps from another post from last year with the same question. I commented on that post that step 10 creates another line with additional years as principal residence, not a rental period. There is no place on this form to identify rental period. Additionally, even if I add another occupancy period, I don't get the line for sec. 284/286.1 in step 11. I've attached screen print of sections of the forms, excluding details of the property (i.e. address, financial info). I'm at a loss as to where you're seeing these 2 items. Could you please provide more specific instructions for steps 10 & 11 as to where I should find them. Thanks. Ufile issue - sale of rental property with PRE claim.pdf

For 2023, I have a similar situation as ArashTheGreat. When I follow the steps suggested by Geo123, then steps 10 & 11 do not work as described. For step 10, the additional occupancy period is still has the title of "Select the taxation years...designated at principal residence". Also, I don't see where I would find the line for step 11. Same issue as ArashTheGreat mentioned about the gain up to change in use vs. gain since then and up to the sale.

I'm trying to enter data for a client for sale of rental property. The property was purchased as a principal residence in 2008 for $244k. In 2016, it was changed to a rental property and the FMV at the time was $300k. As a result, there was a deemed gain of $56k. The property was sold in 2023 for $644k. When I enter the data in Ufile Pro (PoD of $644k, ACB of $244k) and the Principal residence years of 2008 to 2016, the calculation pro-rates the full gain for the PRE exemption. Is there a way to separate the 2 periods and the FMV valuation in 2016 to only have the $56k exemption under the PRE? p.s. I'm thinking that I have to do 2 separate entries but then how does the Plus 1 rule come into play?