Question

I became a non-resident of Canada as of July 27, 2021.How do I file T1243 deemed disposition of property by an emigrant of Canada? Can I do it on Turbotax ? Thank you.

Forum|Forum|3 years ago
April 15, 2022
1 reply
0 views

No text available

TurboTax does not provide form T1243. You will need to fill it out and mail it to the CRA.

Note: Since CRA considers you to have sold certain types of property at their FMV (known as deemed disposition), you will need to claim it as a capital gain (known as departure tax).

To download a copy of the T1243 Form, as per Canada Revenue Agency (CRA):

T1243 Deemed Disposition of Property by an Emigrant of Canada - Canada.ca

Information on Leaving Canada, as per Canada Revenue Agency (CRA):
Leaving Canada (emigrants) - Canada.ca

Thank you for choosing TurboTax.