For more information refer Federal Schedule 3

For more information refer Federal Schedule 3

 

For more information refer Federal Schedule 3

 

For more information refer Federal Schedule 3

 

If you realized a capital gain on the disposition of personal-use property, you are required to report it only if the proceeds of disposition are more than $1,000. In this case, you must enter an adjusted cost base of $1,000 or the actual adjusted cost base, whichever is greater.

 

A loss sustained on the disposition of personal-use property cannot be deducted.

If you realized a capital gain on the disposition of precious property, you  are  required to report it only if the proceeds of disposition are more than $1,000. In this case, you must enter an adjusted cost base of $1,000 or the actual adjusted cost base, whichever is greater. If you disposed of precious property in 2016 and your gains were greater than your losses, you can deduct the net losses you sustained from 2009 to 2015 on precious property, provided you have not previously deducted them. The amount you deduct must not be greater than the net gain you realized in 2016 on the disposition of precious property. If you disposed of precious property in 2016 and your losses were greater than your gains, you cannot deduct these losses from the gains you realized on the disposition of other types of property. However, you can deduct them from the gains you reported on the disposition of precious property in the previous three years. To do so, complete form TP-1012.A-V, Carry-Back of a Loss, and file it separately from your return.

This includes value from the following 3 fields :

 

• LPP loss of earlier years from Non Capital Loss sheet
• Value entered in Line 58 in Part C of Schedule G
• Value from Line 84 in Part C of Schedule G

The value in Line 22 is the sum of value from the following boxes :

 

• Value entered in RL-3 slip box I
• Value entered in RL-15 slip box 12
• Value entered in RL-16 slip box A minus box H
• Value entered in RL-25 slip box B

This line flows from Box 178 in S3 for which data needs to be entered in Allowable Business Investment Loss Worksheet

This amount flows from RL-15 box 12 except gains or losses covered on Line 22 in Part A

This amount is the total of values entered in the below fields :

 

• RL-15 slip box 10
• RL-16 slip box H
• RL-25 slip box C

This line flows from Box 178 in S3 for which data needs to be entered in Allowable Business Investment Loss Worksheet

This amount flows from line 72  of Schedule G for 2015

Line 63 and 77  of Schedule G for 2015

If you have not reached the capital gains deduction limit and are reporting, on line 23 or 24 of Schedule L, a gain realized on the disposition of incorporeal capital property that was qualified farm or fishing property, enter on line 86 of Schedule G the amount of the gain realized on the eligible incorporeal capital amount. Do not include the recovery of annual deductions claimed for previous years. Also complete form TP-726.7-V, Capital Gains Deduction on Qualified Property.