T1 Capital Gains (or Losses) Calculator

This calculator allows you to determine Line 127 - Taxable capital gains

An extract from the General Income Tax and Benefit Guide concerning line 127 is provided below this calculator

Schedule 3: Capital Gains (or Losses) in 2024

For more information, see line 127 in the General Income Tax and Benefit Guide and Guide T4037, Capital Gains.

1. Qualified small business corporation shares						(Report, in 3 below, publicly traded shares, mutual fund units, deferral of eligible small business corporation shares, and other shares.)
Note: If you have a business investment loss, see line 217 in the guide.				(1) Year of Acquisition		(2) Proceeds of disposition		(3) Adjusted cost base	(4) Outlays and expenses (from dispositions)			Gain (or loss) (column 2 minus columns 3 and 4)

Number	Name of corp. and class of shares

				Total	106				Gain or loss	107
2. Qualified farm or fishing property
Address or legal description of property disposed of before April 21, 2024			Prov./Terr.
										274			A
Address or legal description of property disposed of After April 20, 2024			Prov./Terr.
										+			B
			Total: line A plus line B		109			Gain (or loss): line A plus line B		110	+

Mortgage foreclosures and conditional sales repossessions before April 21, 2024 - Address or legal description			Prov./Terr.
										275			C
Mortgage foreclosures and conditional sales repossessions after April 20, 2024 - Address or legal description			Prov./Terr.
										+			D
			Total: line C plus line D		123			Gain (or loss): line C plus line D		124	+
3. Publicly traded shares, mutual fund units, deferral of eligible small business corporation shares, and other shares (Report capital gains (or losses) shown on T5, T5013, T4PS, and T3 information slips on line 174 or line 176.)
Number	Name of corp. and class of shares

				Total	131				Gain or loss	132
4. Real estate, depreciable property, and other properties
Address or legal description			Prov./Terr.
										+
			Total: line C plus line D		136			Gain (or loss): line C plus line D		138	+
5. Bonds, debentures, promissory notes, and other similar properties
Face value	Maturity date	Name of issuer

				Total	151				Gain (or loss)	153	+
6. Other mortgage foreclosures and conditional sales repossessions
Address or legal description			Prov./Terr.
										+
				Total	154			Gain (or loss): line C plus line D		155	+
7. Personal-use property (full description)
										+
								Gain (or loss): line C plus line D		158	+
8. Listed personal property (LPP) (full description)
										+
Note: You can apply LPP losses only against LPP gains.							Subtract: unapplied LPP losses from other years				-
									Net gain only	159	+
Add lines 107, 110, 124, 132, 138, 153, 155, 158, and 159.							Total of gains (or losses) of qualified properties and other properties				=		E

Enter the amount from line E on the previous page.							F
Capital gains deferral from qualifying dispositions of eligible small business corporation shares (included in number 3 on the previous page)					161	-	G
				Line F minus line G		=	H
Farming and fishing income eligible for the capital gains deduction from the disposition of eligible capital property made before April 21, 2024 (for details, see Form T657)		276			I
Farming and fishing income eligible for the capital gains deduction from the disposition of eligible capital property made after April 20, 2024 (for details, see Form T657)			+		J
Farming and fishing income eligible for the capital gains deduction from the disposition of eligible capital property for the year	Line I plus line J	173	=		K
T5, T5013, and T4PS information slips - Capital gains (or losses)					174	+	L
T3 information slips - Capital gains (or losses)					176	+	M
		Add lines H, L, and M.				=	N
Capital loss from a reduction in your business investment loss					178	-	O
	Total of all gains (or losses) before reserves: line N minus line O				191	=	P
Reserves from line 6706 of Form T2017 (if negative, show it in brackets and subtract it)					192	+	Q
	Total capital gains (or losses): line P plus line Q				197	=	R
Multiply the amount on line 197 by 50%. Enter the taxable capital gains on line 127 of your return. If it is a net capital loss, see line 127 in the guide.		Taxable capital gains (or net capital loss) in 2024			199	=

Extract from the General Income Tax and Benefit Guide:

Line 127 - Taxable capital gains

You may have a capital gain or loss when you dispose of property, such as when you sell real estate or shares (including those in mutual funds). Generally, if the total of your gains for the year is more than the total of your losses, you have to report 50% of the difference as income.

However, if the total of your losses for the year is more than the total of your gains, your losses for the year is more than the total of your gains, you cannot deduct the difference on your return for the year.

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T1 Capital Gains (or Losses) Calculator