Principal residence section on Schedule 3 (S3)
Once you answer Yes to the question on the Info worksheet, you are required to complete the Principal residence section on page 3 of the Schedule 3 (S3):
- Enter the address details of the property or properties that were sold. This table expands as required to accommodate more properties. As you add a property, it adds another blank row for another property.
- For each property, enter the year of acquisition and proceeds of disposition.
- If required, indicate the percentage to share with the spouse, or with a third party.
- Check the box to designate the property as the principal residence for all years, if applicable.
- A message appears to remind you to complete a T2091/T1255. For 2017, a T2091 (or T1255) must be completed for all dispositions of a principal residence, regardless of whether a taxable capital gain resulted from the sale, or not. Click the link in the review message to create a T2091/T1255 using the address information.
- The boxes on line 179 below the table are automatically checked based on what you enter in the table.