Including a previous year reserve in income

If you claimed a reserve in the previous year, include that reserve in the calculation of your capital gains for the current year.

For example, if you claimed a reserve in 2021, you have to include it in your capital gains calculation for 2022.

Claim the new reserve that you have calculated for 2022 in the appropriate area on Form T2017, Summary of Reserves on Dispositions of Capital Property.

If you still have an amount that is payable to you after 2022, you may be able to calculate and claim a new reserve.

However, you will have to include it in your capital gains calculation for 2023.

Forms and publications

• Guide T4037, Capital Gains
• Form T2017, Summary of Reserves on Dispositions of Capital Property