Calculating and reporting your capital gains and losses
The topics and instructions below provide information on calculating your capital gains and losses, and on completing Schedule 3 and line 12700 of your return.
Topics
- When do you have a capital gain or loss?
Events involving capital property that may lead to a capital gain or loss. - When do you report a gain or loss?
Information on the rules for reporting and record-keeping. - What happens if you have a capital gain?
You may be able to defer, offset or reduce all or part of the gain. - What happens if you have a capital loss?
Can you reduce your gain, or apply a loss to previous or future years? - Calculating your capital gain or loss
The things you need to know to calculate your gain or loss, like the inclusion rate, adjusted cost base (ACB), and proceeds of disposition. - Completing Schedule 3
Completing the applicable sections of schedule 3, and calculating the amount of taxable capital gains to enter on line 12700 of your return.
Completing your tax return
You have to complete Schedule 3 to determine your taxable capital gains or your net capital loss.
Complete Period 1 for dispositions from January 1 to June 24, 2024. Complete Period 2 for dispositions from June 25 to December 31, 2024.
Enter your taxable capital gains (positive amount) from line 19900 of your Schedule 3 on line 12700 of your return. If the amount on line 19900 is negative (net capital loss), do not report it on line 12700 of your 2024 return. Your net capital loss, if any, will appear on your 2024 notice of assessment or reassessment. You can use it to reduce your taxable capital gain in any of the three preceding years or any future year.
Report your gains or losses in Canadian dollars. Use the exchange rate that was in effect on the day of the transaction or, if there were transactions at various times throughout the year, use the Exchange Rate or Annual Average Exchange Rate.
If you need detailed information on how to report your capital gains or losses, see Completing Schedule 3.
Forms and publications
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