Hello,
Hey guys,
You own a home use it as your primary residence then later buy a bigger home and leave the old one to be rented out.
Finally you sell the rental home.
Now you must book the CG on T2091 correct?
I have heard an alternate method,
CG = Proceeds - cost(FMV when the change of use occurred) -outlays
(the basis of this is - the rental unit was not a personal use property)
Thoughts