Calculating and reporting your capital gains and losses
Note: Line 12700 was line 127 before tax year 2019.
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.
- When do you have a capital gain or loss?
Events involving capital property that may lead to a capital gain or loss.
- When to 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
On line 12700 of your return, enter the positive amount from line 19900 of your Schedule 3. If the amount on line 19900 of your Schedule 3 is negative (a loss), do not claim the amount on line 12700 of your return. The CRA will register it on their system. Keep track of this loss which you can use to reduce your taxable capital gains of other years.
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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