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March 29, 2023
Question

Changing Principal Residence to Rental

  • March 29, 2023
  • 1 reply
  • 0 views

I am Changing my condo from principle to rental, it is deemed disposition. Should I choose "other" (who are you transferring the property to?). 

 

What is the tax implication if I select Spouse?

1 reply

TurboTaxSusan
April 5, 2023

You would only indicate that you disposed of your property to your spouse if you actually transferred ownership to them. If that's not the case, you might run into issues if the CRA checks the legal ownership records.