Real Estate

Selling Property - Adjusted Cost Base

  • Last Updated:
  • Apr 28th, 2021 2:49 pm
[OP]
Jr. Member
Jun 20, 2005
170 posts
21 upvotes
Toronto

Selling Property - Adjusted Cost Base

Hi,

Are the following applicable to the adjusted cost base on the sale of a rental property:

-Land transfer tax paid
-CMHC fee that was added to mortgage (was supposed to be a principal residence)
-Lawyers fees on sale
-Realtor commissions on sale

Thanks!
2 replies
Deal Addict
Feb 19, 2019
1235 posts
1741 upvotes
Stouffville ON
1 and 2 are added to the acb.
3 and 4 are selling costs, the net result is the same but it's not added to your acb.

That's assuming this was investment property from day 1.
Full Time and Full Service Realtor
Sr. Member
Mar 30, 2017
857 posts
556 upvotes
senasena wrote: 1 and 2 are added to the acb.
3 and 4 are selling costs, the net result is the same but it's not added to your acb.

That's assuming this was investment property from day 1.
yea, 100% correct. In reality nobody not even cra cares how you classify it as long as the capital gain is correct.
profit on 6/23/2021 = 117.61% since 11/10/2020 to be exact😎

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