Do I need to fill out T2091 when I converted rental house to personal residence for which I will claim the principal residence in the future?
I bought a house in 2003 that was my principal residence until 2014. In 2014, I converted it to a rental property and got an appraisal done. I claimed the PR exemption in 2014 and started reporting the rental income. In that year, the PR was not required to be reported on the tax return.
In 2019, I converted the house back to my principal residence. I had an appraisal done. There was an increase from 2014 on the land portion of the property. I am including the capital gain on my tax return for 2019. No 45(2) or (3) election was made. I am okay with that.
My question is, do I need to fill out the T2019 even though I did not sell my PR in 2019? When I look at the form, it doesn't appear so. When I look on Schedule 3 when I report my CG, it doesn't appear so but then at the bottom of the form it says you may need to if you changed the use from a business property to a PR. It is a little confusing. What do you think? Thank you in advance.