Hello, my spouse and I used to own a property and lived in it for 5-6 years as our primary residence. We purchased a new property and moved out to our new place, rented the property that we used to live for a few years and sold it a few months ago. We claimed all rental income and expenses throughout the years when the property was rented. I think the way that the capital gain tax should be calculated is based on the difference between the Fair Market Value of the property at the time when we moved out and the price of it when we sold it. I think the capital gain tax must not be calculated for the period when we used to live in the property as our primary residence.
My questions are:
How can I file this scenario in UFile?
Am I able to claim all expenses e.g. repairs, improvements, etc. when I used to live in the property as the capital cost?