Real estate, depreciable property, and other properties

If you sold real estate or depreciable property, you have to report your capital gain or loss in section 4 of Schedule 3.

Do not use this section to report the sale of personal-use property (such as a cottage) or the sale of mortgages and other similar debt obligations on real property. Report these transactions under the sections called Personal-use property and Bonds, debentures, promissory notes, crypto-assets and other similar properties, respectively.

To find out what real estate includes, and special rules that may apply if the real estate included land and a building, or if you filed Form T664 or T664(Seniors), Election to Report a Capital Gain on Property Owned at the End of February 22, 1994, see Real estate.

When you dispose of depreciable property, you may have a capital gain.  Special rules on capital cost allowance (CCA) may require you to add recapture to your income or allow you to claim a terminal loss. For more information, see Depreciable property.

Completing your Schedule 3

Report dispositions on lines 13599 and 13800 of Schedule 3.

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