Chart 1 – Reporting capital gains (or losses) and other amounts from information slips

This chart explains how and where to report capital gains (or losses) and other amounts which are reported on information slips. Please read the instructions on the back of your slips to ensure that you claim all deductions and credits that you may be entitled to.
Type of slip Description of amounts to report Line on Schedule 3 Other information
T3 Box 21, Capital gains – This is your total capital gain from a trust. Report the difference between this amount and the amount in box 30.

The footnotes area may show that all or part of the amount in box 21 is non-business income for foreign tax credit purposes. Enter the footnoted amount on line 43300 of Form T2209, Federal Foreign Tax Credits, and use it to calculate your foreign tax credit.
Line 17600  

Box 30, Capital gains eligible for deduction – If there is an amount in this box, the footnotes area will show that all or part of your gain is from dispositions of:

  • qualified small business corporation shares (QSBCS)
  • qualified farm or fishing property (QFFP)

The footnotes area will also indicate whether the gain relates to a disposition in the current or a previous tax year of the trust.

If the disposition occurred in the current tax year of the trust, the capital gain should be included in your capital gains being reported for the current year on Form T657. Capital gains realized by the trust and allocated to you in 2023, are included on line 10700 or line 11000, as applicable. Use Part 3r and Part 3s (as applicable) on Form T657.

If the disposition occurred in one of the four previous tax years of the trust, these gains should not be included in Part 3r or Part 3s of Form T657. Use the applicable parts of Form T657 (determined on page 5 of Form T657) to calculate the capital gains deduction for gains relating to dispositions that occurred in the 2019 to 2022 tax years (corresponding to the trust’s year of disposition indicated in the footnotes area).

Example: You received a T3 slip relating to the trust’s 2023 tax year. The footnotes area indicates that the capital gain shown in box 30 is related to the disposition of QFFP that occurred in 2021. Based on the questions on page 5 of Form T657, you should use Part 3n and Part 3o to calculate the capital gains deduction that you may claim in respect of these capital gains.

Line 10700

Line 11000
T3 Box 37, Insurance segregated fund capital losses Line 17600 See note 1
T3 Box 42, Amount resulting in cost base adjustment N/A See note 4
T4PS Box 34, Capital gains or losses Line 17400 See note 2
T5 Box 18, Capital gains dividends Line 17400  
T5013 Box 151, Capital gains (losses) Line 17400  
T5013 Box 153, Qualified smallbusiness corporation shares (QSBCS) capital gains (losses) amount eligible for the capital gains exemption Line 10700  
T5013 Box 154, Qualified farm or fishing property (QFFP) capital gains (losses) amount eligible for the capital gains exemption Line 11000  
T5013 Box 155, Capital gains (losses) from QFFP mortgage foreclosures and conditional sales repossessions eligible for the capital gains deduction Line 12400  
T5013 Boxes 152, 163, 165, 166, and 222 to 225, Capital gains reserves – These are your capital gains reserves from the partnership. N/A See note 3

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