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Capital Gain on Deceased Parent's Principal Residence | General financial discussion | Discussion forum

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Capital Gain on Deceased Parent's Principal Residence
February 13, 2026
10:27 am
Sonz
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March 19, 2017
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I am stumped! I read this article...

https://www.ctvnews.ca/toronto.....same-year/

The parents sold their home and made the cottage the Principal residence for 5 years, yet "Revenue Canada still wanted a portion of the capital gains of that property from the time they owned it from 1998 to 2019."

How is this possible if it was their sole principal residence?

Many thanks!

February 13, 2026
10:34 am
Wrayzor
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Maybe because the cottage wasn't the principal residence during those years? The past capital gain isn't eliminated by making the property a principal residence.

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