If the conditions linked to a period of use and ownership are met, any gain made on the sale of your housing home will be tax-free. Similarly, you can deduct a loss in the tax return.

For the year in which the property is sold, you must check that the tax value of the property is not entered in your tax return. If it's listed you must change the tax return.

When a gain is taxable, any loss will be deductible

If the conditions linked to a period of occupancy and ownership isn't met, any gain made on the sale of your own home will be taxable. Similarly, any loss will be deducted in the tax return.

Gains and losses made on the sale of housing must be entered in the tax return for the income year in which the property is taken over by the purchaser. This applies even if the purchase sum is paid in full or in part in a different year.

You can use form RF-1318 as a help for calculating tax liable gain/deductible losses. 

What to do:

• You calculate the tax liable gain/deductible loss by using RF-1318 as a help
• You enter the calculated amount (gain/loss) in the tax return