Principal Residence with joint owners & differing ownership periods

[YLWGuy]

My wife purchased her home in 2008.  We got married in 2013.  At that time, I purchased 50% of the home from my wife.  For sake of argument, let's say the my wife's purchase price of the home in 2008 was $500,000.  Let's say that I paid $300,000 in 2013 in order to purchase 50%.

How do I fill out the T2091 form for both my wife & myself?

Do we just fill out one T2091 form and say the adjusted cost base was $500,000 with a purchase date of 2008?

Or, do we each fill out a T2091 form.  My wife's form with $500,000 and purchase date of 2008.  My form with  $600,000 & purchase date of 2013.  Each with 50% ownership.

There may be other ways to enter this information.  It's not clear how I should enter data into the Ufile software.

Thank you for any help.

[clw]

If you designated this property for all years of ownership, the purchase price is irrelevant. Either one of you can fill the T2091 indicating proceeds of disposition, date of sale and years designated. Make sure you check ‘transfer information to spousal return’ box and Ufile will fill the other spousal return.