T3-Schedule 1 - fill out and auto calculate/complete form online

Protected B when completed

T3-2023

Dispositions of Capital Property

Schedule 1

•

Enter the tax year in the box above.

•

For information on completing this schedule, see Chapter 3 in Guide T4013, T3 Trust Guide.

•

If the trust is reporting a deemed disposition, first complete Form T1055, Summary of Deemed Dispositions (2002 and later tax years).

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If you need more space, attach a separate sheet of paper. Include a completed copy of this schedule with the trust's return.

Note: Do not use this schedule to claim an allowable
business investment loss from disposing of shares or debts
of a small business corporation
(see "Line 18" in Guide T4013, T3 Trust Guide).

1
Year
of
acquisition

2
Proceeds
of
disposition

3
Adjusted
cost
base

4
Outlays and
expenses
(from dispositions)

5
Gain (or loss)
(column 2 minus
columns 3 and 4)

Qualified small business corporation shares (QSBCS) (report publicly traded shares, mutual fund units, and other shares on line 3 below)

No. of shares

Name of corporation and class of shares

Total

1011

Gain (or loss)

1012

Qualified farm or fishing property (QFFP)

Address or legal description

Total

1021

Gain (or loss)

1022

Publicly traded shares, mutual fund units, and other shares (include the amounts from line 1512 of column 7 and line 1 of column 8 of
Schedule 1A) (report capital gains or losses shown on an information slip on line 10 below)

No. of shares

Name of corporation and class of shares

Total

1031

Gain (or loss)

1032

Bonds, debentures, promissory notes, crypto-assets, and other similar properties (include the amounts from line 1522 of column 7 and line 2
of column 8 of Schedule 1A)

Face value

Maturity date

Name of issuer

Total

1041

Gain (or loss)

1042

Real estate, depreciable property and other properties (see property flipping on page 2)

Address or legal description

Total

1051

Gain (or loss)

1052

Personal-use property (see property flipping on page 2)

1061

(if negative, enter "0")

1062

Listed personal property (LPP) (describe in full)

Note: You can only apply LPP losses against LPP gains.

1071

Gain (or loss)

1072

Enter LPP losses from line 7 of Form T1055, and unapplied LPP losses from other years (give details)

1080

–

Net gain (line 7 minus line 8)

T3 information slips – Capital gains (or losses)

1100

T5, T4PS, and T5013 information slips – Capital gains (or losses)

1101

Subtotal (add lines 1 to 6, and 9 to 11)

Capital losses from a reduction in business investment loss

1130

–

Total of amounts in column 5 before reserves (line 12 minus line 13)

Reserves from line 4, column 3 of Schedule 2 (if negative, show it in brackets)

1170

Subtotal (line 14 plus line 15)

Capital gains on gifts of certain capital property eligible for the 0% inclusion rate

(amount from line 3 of Schedule 1A; attach Schedule 1A)

–

Subtotal (line 16 minus line 17)

Capital gains from gifts of other capital property (see Schedule 1, line 17 in

Guide T4013, T3 Trust Guide)

1191

Total capital losses transferred under subsection 164(6) (do not put this amount in brackets)

1646

Total capital gains (or losses) (line 18 plus line 20)

x 1/2

Subtotal (multiply line 21 by 1/2)

T3 SCH 1 E (23)

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Protected B when completed

Schedule 1

Enter the amount from line 22 on the previous page.

Non-qualified investments for TFSA, FHSA, RRSP, RRIF, RDSP, and RESP trusts (describe in full), or
Disposition of interest in a partnership to a Tax Exempt Entity, Non-Residents, certain persons and partnerships (describe in full)
(see Schedule 1, line 23, in Guide T4013, T3 Trust Guide)

1091

Gain (or loss)

1092

Total taxable capital gains (or net capital losses) (add lines 22 and 23)

1220

If the amount on line 24 is positive and the trust is reporting an allowable capital loss from deemed dispositions on Form T1055,
enter the amount on line 21 of Form T1055. Otherwise enter the amount on line 1 of the T3 return. If the amount on line 24 is
negative, and the trust is reporting a taxable capital gain from deemed dispositions on Form T1055, enter the amount on line 13
of Form T1055. Otherwise, see “Line 1 – Taxable capital gains” in Guide T4013, T3 Trust Guide.

Property Flipping:

If a trust owned a housing unit (including a rental property) or a right to acquire a housing unit located in Canada for less than 365 consecutive days before the
disposition, the property is generally considered to be flipped property. The resulting gain on the disposition of a flipped property is taxable as business income
and not as a capital gain. The deeming rule does not apply to inventory, the disposition of which would already result in business income. Very generally,
exceptions to the flipped property rule may apply in certain situations where the disposition occurs due to, or in anticipation of, certain life events.

If the property is a flipped property, do not report the gain on this schedule, but rather report the income on Form T2125 Statement of Business or Professional
Activities. If the property is not a flipped property, and the trust has a capital gain or loss, use this schedule to report the disposition.

For more information about property flipping and the life event exceptions, go to canada.ca/cra-property-flipping or see T4037 – Capital Gains Guide.

See the privacy notice on your return.

T3 SCH 1 E (23)

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