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D
dermody.matthew
April 2, 2025
Question

how do i get past the residential property flipping screen that wants me to upgrade, i don't want an upgrade

  • April 2, 2025
  • 1 reply
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    1 reply

    T
    TurboImpotVeronique
    April 4, 2025

    Flip property is considered as Self-Employment. TurboTax Online will prompt you to use the appropriate edition needed for your tax situation. 

     

    As per CRA, starting January 1, 2023, any gain from the disposition of a housing unit (including a rental property) located in Canada, or a right to acquire a housing unit located in Canada, that you owned or held for less than 365 consecutive days before its disposition is deemed to be business income and not a capital gain

     

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