Determining your taxable capital gains (or losses)

You have to complete the bottom portion of the Schedule 3 to determine your taxable capital gain or your net capital loss.

The amount of your total capital gains may vary if you have:

• a reserve
• donated a gift of certain capital property

When you complete this portion of the Schedule 3, you will multiply your total capital gains (or losses) by the inclusion rate. The inclusion rate for 2023 is 50%.

If you have a taxable capital gain, transfer the amount to line 12700 of your return.

If you have a net capital loss, you can use it to reduce your taxable capital gain in any one of the three preceeding years or in any future year. See Capital losses and deductions for more information.

For more information, see Calculating your capital gain or loss.

Forms and publications

• Schedule 3, Capital Gains (or Losses)
• Income tax package