| Protected B when completed | ||||||||||||||
| Definitions | ||||||||||||||
| For the purpose of this form, the acquisition date is the date on which you acquired or last reacquired the property, or December 31, 1971, whichever is later. However, if you or your spouse or common-law partner filed Form T664 or T664(Seniors), you or your spouse or common-law partner are not considered to have disposed of and immediately reacquired the property as a result of that election. |
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| The term spouse used throughout this form applies to a person to whom you are legally married. For 1993 to 2000, a spouse included a common-law spouse. For 2001 and future years, the reference to spouse is replaced with spouse or common-law partner as defined in the "Definitions" section in Guide T4037, Capital Gains. |
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| Note | ||||||||||||||
| If you made an election to have your same-sex partner considered your common-law partner for 1998, 1999, and/or 2000, then, for those years, your common-law partner also can not designate a different housing unit as their principal residence. |
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| Information needed to calculate the capital gain | ||||||||||||||
| If you ticked either box 2 or 3 at line 17900 of Schedule 3, you must complete the remainder of this form that is applicable to your situation. |
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| If you disposed of, or were considered to have disposed of, a property for which you or your spouse or common-law partner filed Form T664 or T664(Seniors), Election to Report a Capital Gain on Property Owned at the End of February 22, 1994, use this form to calculate the capital gain for the year if one of the following applies: |
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| • | the property was your principal residence in 1994 | |||||||||||||
| • | you are designating the property in this form as your principal residence for any tax year | |||||||||||||
| You may be entitled to a reduction as a result of the capital gains election. To calculate this reduction, use Form T2091(IND)-WS, Principal Residence Worksheet. To get this form, go to canada.ca/cra-forms-publications or call 1-800-959-8281. |
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| Number of tax years for which the property is designated as a principal residence | ||||||||||||||
| (from line 3 of first page) | = | 4 | ||||||||||||
| Number of tax years ending after the acquisition date in which you owned the property (jointly with another person or otherwise): |
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| After 1981 | 5 | |||||||||||||
| After 1971 and before 1982 | + | 6 | ||||||||||||
| Total number of years owned (line 5 plus line 6) | = | 7 | ||||||||||||
| Proceeds of disposition or deemed disposition | 8 | |||||||||||||
| Outlays and expenses made or incurred related to the disposition | 9 | |||||||||||||
| Adjusted cost base at the time of disposition (If you or your spouse or common-law partner filed Form T664 or T664(Seniors) for this property, do not take into consideration any increase to the |
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| adjusted cost base as a result of that election.) | 10 | |||||||||||||
| Adjusted cost base on December 31, 1981 | 11 | |||||||||||||
| Fair market value on December 31, 1981 | 12 | |||||||||||||
| Adjustments to the cost base made after 1981 (for example, capital expenditures) | 13 | |||||||||||||
| Calculation of the capital gain | ||||||||||||||
Part 1 |
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| Proceeds of disposition or deemed disposition (line 8) | 14 | |||||||||||||
| Adjusted cost base at the time of disposition (line 10) | 15 | |||||||||||||
| Outlays and expenses made or incurred (line 9) | + | 16 | ||||||||||||
| Line 15 plus line 16 | = | ► | – | 17 | ||||||||||
| Line 14 minus line 17 | Capital gain before principal residence exemption | = | 18 | |||||||||||
| Amount from line 18 | 19 | |||||||||||||
| Line 4 plus 1 (see note on page 3) | x | 20 | ||||||||||||
| Multiply line 19 by line 20 | = | 21 | ||||||||||||
| Total number of years from line 7 | ÷ | 22 | ||||||||||||
| Divide line 21 by line 22 | = | ► | – | 23 | ||||||||||
| Line 18 minus line 23; if negative, enter "0" | Net capital gain | = | 24 | |||||||||||
| T2091 (IND) E (22) | Page 2 of 4 | |||||||||||||