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New Member
posted Dec 28, 2024 9:44:05 AM

The life time capital gains exemption limit (LCGE) should now be $1.25 million as of June 24, 2024 in Canada. It is not in TurboTax, why?

The captial gains inclusion rate has been increased from 50% to 66.7% in TurboTax for captiasl gains after June 25, 2024, but the corresponding increase in the LCGE limit has not been changed to $1.25 million. Although not passed into law yet, CRA will be implementing both these changes effective June 25, 2024.

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Level 15
Dec 28, 2024 9:50:43 AM

This is the USA forum.  Here is the Canada forum  

https://turbotax.community.intuit.ca/tax-help