Calculations A and B

Calculation A – Land and building disposed of in the same year

Calculation A – Land and building disposed of in the same year

1. FMV of the building when you disposed of it

$ Blank space for dollar value
Line 1

2. FMV of the land just before you disposed of it

+ $ Blank space for dollar value
Line 2

3. Line 1 plus line 2

= $ Blank space for dollar value
>
$ Blank space for dollar value
Line 3

4. Seller's adjusted cost base of the land

$ Blank space for dollar value
Line 4

5. Total capital gains (without reserves) from any disposition of the land (such as a change in use) by you, or by a person not dealing at arm's length with you, in the three-year period before you disposed of the building, to you or to another person not dealing at arm's length with you

− $ Blank space for dollar value
Line 5

6. Line 4 minus line 5 (if negative, enter "0")

= $ Blank space for dollar value
Line 6

7. Line 2 or line 6, whichever amount is less

− $ Blank space for dollar value
Line 7

8. Line 3 minus line 7 (if negative, enter "0")

= $ Blank space for dollar value
Line 8

9. Cost amount of the building just before you disposed of it

$ Blank space for dollar value
Line 9

10. Capital cost of the building just before you disposed of it

$ Blank space for dollar value
Line 10

11. Line 9 or line 10, whichever amount is less

$ Blank space for dollar value
Line 11

12. Line 1 or line 11, whichever amount is more

$ Blank space for dollar value
Line 12

Deemed proceeds of disposition of the building

13. Line 8 or line 12, whichever amount is less (enter the amount from line 13 in column 3 of Area E and include it in column 5 of Area A)

$ Blank space for dollar value
Line 13

Deemed proceeds of disposition of the land

14. Proceeds of disposition of the land and building

$ Blank space for dollar value
Line 14

15. Amount from line 13

− $ Blank space for dollar value
Line 15

16. Line 14 minus line 15 (enter this amount at line 9924 of Area F)

= $ Blank space for dollar value
Line 16

If you have a terminal loss on the building, include it at line 9948 – Terminal loss.

Calculation B – Land and building disposed of in different years

Calculation B – Land and building disposed of in different years

1. Cost amount of the building just before you disposed of it

$ Blank space for dollar value
Line 1

2. FMV of the building just before you disposed of it

$ Blank space for dollar value
Line 2

3. Line 1 or line 2, whichever amount is more

$ Blank space for dollar value
Line 3

4. Actual proceeds of disposition, if any

− $ Blank space for dollar value
Line 4

5. Line 3 minus line 4

= $ Blank space for dollar value
Line 5

6. Amount from line 5

$ Blank space for dollar value
× ½
= $ Blank space for dollar value
Line 6

7. Amount from line 4

+ $ Blank space for dollar value
Line 7

Deemed proceeds of disposition for the building

8. Line 6 plus line 7 (enter this amount in column 3 of Area E and include it in column 5 of Area A)

= $ Blank space for dollar value
Line 8

If you have a terminal loss on the building, include it at line 9948 – Terminal loss.

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