Tax tips for clients who sold, bought or renovated homes in 2020
The Canada Revenue Agency (CRA) offered tips on Wednesday for taxpayers who sold, bought or made renovations to their homes in 2020.
If your client sold property, including a principal residence, they must report the sale on their tax return for the year they sold the property.
“How you report depends on what type of property you sell,” the CRA said in a release.
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Staff
Original Article Posted on: March 24, 2021
Link to Original Article: https://www.advisor.ca/tax/tax-news/tax-tips-for-clients-who-sold-bought-or-renovated-homes-in-2020/