shi9208 Posted April 19, 2023 Report Share Posted April 19, 2023 ufile won't let me file quebec tax return electronically, it says: The taxpayer is requesting an election (for example under section 284 or 286.1 [TP-274] or under subsection 45(2) or 45(3) [ITA]) within their income tax return. * it asked me to mail the tax return forms. I have a rental property that was changed to Principle residence last year. after I chose "change in use" under "captial gain", I got the form 45(3). how to fix it? should I NOT choose "change in use"? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 19, 2023 Report Share Posted April 19, 2023 Hello shi9208, (1.) Principal residence This section is used if you disposed of a property (or properties) in 2022 for which you are claiming a principal residence exemption. Designation of the property as a principal residence to the Canada Revenue Agency (CRA) by filing the Designation of Property as Principal Residence by an individual other than a personal trust (T2091)? [Yes] < - - - SELECT HERE By selecting "yes", you confirm that all information provided on this property on the Designation of property as principal residence form by an individual other than a personal trust (T2091) corresponds to the information you provide on the Designation form. property as a principal residence (TP-274), such as the address or legal designation of the property, the number of years for which the property is designated and the proceeds of disposition. Address of the principal residence Apartment Street 1234 HouesSale St City MyTown Province Quebec Postal code H3P 1Y3 Select the form to use (T2091 or T1255) [T2091 - Designation of a property as a principal residence by an individual] < - - - SELECT HERE (2.) Changing all your principal residence to a rental or business property *When you change your principal residence to an income producing property, such as a rental or business property, you can make an election not to be considered as having started to use your principal residence as a rental or business property. This means you do not have to report any capital gain when you change its use. If you make this election: you have to report the net rental or business income you earn you cannot claim capital cost allowance (CCA) on the property *To make this election, attach a letter signed by you to your income tax and benefit return of the year in which the change of use occurs. Describe the property and state that you want subsection 45(2) of the Income Tax Act to apply. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-127-capital-gains/principal-residence-other-real-estate/changes-use/changing-your-principal-residence-a-rental-business-property.html Quote Link to comment Share on other sites More sharing options...
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