Listed personal property (LPP)
Listed personal property is a type of personal-use property. The principal difference between listed personal property (LPP) and other personal use properties is that LPP usually increases in value over time.
LPP includes all or any part of any interest in or any right to the following properties:
- prints, etchings, drawings, paintings, sculptures, or other similar works of art
- rare folios, rare manuscripts, or rare books
To determine the value of many LPP items, you can have them appraised by a dealer. You can also refer to catalogues for the value of the properties.
LPP gains do not include gains from selling or donating certified Canadian cultural property to a designated institution. For more information, see Selling or donating certified Canadian cultural property.
Because LPP is a type of personal-use property, the capital gain or loss on the sale of the LPP item is calculated the same way as for personal-use property. For more information about these rules, see Personal-use property.
To determine if you have a LPP loss and for information on applying these losses to previous or future years, see Listed personal property (LPP) losses.
Completing your Schedule 3
Enter your gains arising from the disposition of listed personal property in the LPP area (section 8) of Schedule 3. Enter the amount of LPP losses from other years and subtract it from your 2023 LPP gains. Enter the net gain only on
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