So completed the T2091 for someone who lived in for part of the time, rented for part of the time of ownership. line “20” on the forms says “line 4 plus 1”, but the automatic prefilling of the form does not do that, only takes line 4. Client caught this and want to know why it does not pre fill to the extra number. I don’t have an answer for him. Any idea why it does not prefill with the 1+.??
Seems to work work for me - I see no error. Perhaps you could post a screen shot of what appears on lines 4 through 24?
TaxCycle automatically adds the +1 in the calculation of the exemption - see line 20 of part 1 on T2091 (T1255 for a deceased taxpayer).
By the way, the term is principal residence - principAL, not principLE. Keep a dictionary handy - probably hundreds on line.
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Actually, you need to watch that if you have more than one property.
Recently had situation where one was principle resident from early 2000’s to mid 2000’s then moved to new home and started renting out the old one. The disposed of both this past year and when doing the T2091; when I recorded the 2nd purchased property before the 1st purchased property, the + 1 was not automatically added, needed to over ride it. When switched around on a new return, worked fine.
Lorne