Line 12700 – Taxable capital gains

• Return type: Personal income tax and benefit return
• Tax year: 2024

If you sold or disposed of property in 2024 and your taxable capital gains  for the year were more than your allowable capital losses  , you have to include the difference on line 12700 of your return.

To find out the most recent changes about capital gains, see What's new for capital gains.

Topics

Reporting capital gains

• Calculating and reporting capital gains and losses
  Find out general information to help you determine if you have a capital gain or loss and calculate your capital gains and losses.
• Completing Schedule 3
  Learn more about completing the applicable sections of Schedule 3 and calculating the amount of taxable capital gains to enter on line 12700 of your return.
• Claiming a capital gains deduction
  Find out if you can claim an amount at line 25400 for the cumulative capital gains deduction and be able to reduce your taxable income.
• Claiming a reserve
  Find out if you can defer part of your capital gain by claiming a capital reserve.

If you have a loss

• Capital losses
  Learn more about capital losses and the different treatments of capital gains that may reduce your taxable income.
• Lines 21698, 21699 and 21700 – Business investment loss
  Find out what is a business investment loss and how is an ABIL determined, deducted, and carried back or forward.
• Line 25200 – Non-capital losses of other years
  Find out what is a non-capital loss, how long you can carry a non-capital loss, and when and how to apply your non-capital losses.
• Line 25300 – Net capital losses of other years
  Find out which losses are carried forward first and how the inclusion rate affect the loss carry forward and the amount entered on line 25300.

Other information and special rules

• Principal residence
  Find out what type of housing can be a principal residence and learn more about designating, changing the use and disposing of a principal residence.
• Transfers of capital property
  Learn about special rules that may apply to tranfers of land, buildings, or other special property.
• Gifts of shares, stock options, and other capital property
  Find information for donors of certified Canadian cultural property, ecologically sensitive land, or other capital property such as bonds, shares or stock options.
• Special rules and other transations
  Learn about some of the special rules that may apply when you calculate your capital gain or loss, and how to report some of the less common capital transactions.