Form T2091 is used by individuals to designate a property as their principal residence for the purpose of claiming the principal residence exemption. This exemption can reduce or eliminate the capital gains tax on the sale of the property. It is important to complete this form accurately to ensure eligibility for the exemption.

Individuals who are selling a property that they have used as their principal residence and wish to claim the principal residence exemption.

It is used to designate a property as your principal residence and to claim exemptions on capital gains tax.

It is not needed if the entire capital gain is exempt because the property was your principal residence for all years of ownership.

You can submit it with your income tax return, either electronically or by mailing a paper version to the Canada Revenue Agency.