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Canada Revenue Agency |
Agence du revenu du Canada |
Protected B when completed | ||||||||||||||
| Calculation of Capital Gains Deduction for 2023 | |||||||||||||||||
Part 1 – Calculating your annual gains limit for 2023 |
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| Total of lines 10700, 11000, and 12400 of Schedule 3 | |||||||||||||||||
| (if the amount is a loss, show it in brackets) | 1 | ||||||||||||||||
| Total of lines 7 and 11 of Form T2017 | |||||||||||||||||
| (if the amount is a loss, show it in brackets) | + | 2 | |||||||||||||||
| Total net capital gains (or losses): | |||||||||||||||||
| Line 1 plus line 2 (if the amount is a loss, show it in brackets) | = | 3 | |||||||||||||||
| Total taxable capital gains (or losses): | |||||||||||||||||
| Amount from line 3 | x 1/2 | = | 4 | ||||||||||||||
| Total taxable capital gains or net capital losses from line 19900 of | |||||||||||||||||
| Schedule 3 (if the amount is a loss, show it in brackets) | 5 | ||||||||||||||||
| Amount from line 17600 on Schedule 3 | |||||||||||||||||
| (if negative, enter "0") | x 1/2 | – | 6 | ||||||||||||||
| Line 5 minus line 6 | = | 7 | |||||||||||||||
| 2023 eligible taxable capital gains Enter the amount from line 4 or 7, whichever is less; |
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| if line 8 is zero, you cannot claim a capital gains deduction for 2023 | ► | 8 | |||||||||||||||
| Net capital losses of other years deducted in 2023 | |||||||||||||||||
| (line 25300 of your 2023 return) | 9 | ||||||||||||||||
| Net capital losses of other years applied against net | |||||||||||||||||
| non-eligible taxable capital gains in 2023 | |||||||||||||||||
| (line 9 of Chart A of Form T936 for 2023) | – | 10 | |||||||||||||||
| Net capital losses of other years: | |||||||||||||||||
| Line 9 minus line 10 (if negative, enter "0") | = | ► | 11 | ||||||||||||||
| Allowable business investment losses (line 21700 of your 2023 return) | + | 12 | |||||||||||||||
| Line 11 plus line 12 | = | ► | – | 13 | |||||||||||||
| Line 8 minus line 13 (if negative, enter "0") | Annual gains limit for 2023 | = | 14 | ||||||||||||||
| If line 14 is zero, do not complete the rest of this form, because you cannot claim a capital gains deduction for 2023. | |||||||||||||||||
| T657 E (23) | (Ce formulaire est disponible en français.) |  |
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| Protected B when completed | |||||||||||||||||
Part 2 – Calculating your cumulative gains limit for 2023 |
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| Total taxable capital gains reported after 1984 and before 1992 | |||||||||||||||||
| (line 127 of your returns for these years). Do not include reserves reported | |||||||||||||||||
| on property disposed of before 1985. | 15 | ||||||||||||||||
| 1992 and 1993 eligible taxable capital gains | |||||||||||||||||
| (line 3 in Part 1 of Form T657 or Form T657A for 1992 and 1993) | + | 16 | |||||||||||||||
| 1994 eligible taxable capital gains | |||||||||||||||||
| (line 5 in Part 1 of Form T657 or T657A for 1994) | + | 17 | |||||||||||||||
| 1995 eligible taxable capital gains | |||||||||||||||||
| (line 7 in Part 1 of Form T657 or line 3 of Form T657A for 1995) | + | 18 | |||||||||||||||
| 1996 to 1999 eligible taxable capital gains | |||||||||||||||||
| (line 8 in Part 1 of Form T657 for those years) | + | 19 | |||||||||||||||
| 2000 eligible taxable capital gains (line 7 in Part 1 of Form T657 for 2000) | + | 20 | |||||||||||||||
| 2001 eligible taxable capital gains (line 8 in Part 1 of Form T657 for 2001) | + | 21 | |||||||||||||||
| 2002 to 2023 eligible taxable capital gains (line 10 in Part 1 of Form T657 | |||||||||||||||||
| for 2002 to 2017 or line 8 in Part 1 of Form T657 for 2018 and later years) | + | 22 | |||||||||||||||
| Total of lines 15 to 22 Cumulative eligible taxable capital gains | = | ► | 23 | ||||||||||||||
| Allowable capital losses claimed in 1985 (amount shown in brackets on line 127 of your 1985 return; |
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| maximum of $2,000) | 24 | ||||||||||||||||
| Total allowable business investment losses claimed after 1984 and before 2023 (line 217 on your returns for 1985 to 2018 and line 21700 on |
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| your returns for 2019 and later years) | + | 25 | |||||||||||||||
| Total net capital losses of other years claimed after 1984 and before 2023 | |||||||||||||||||
| (enter the total of amounts in column G of Chart 1 on the last page) | + | 26 | |||||||||||||||
| Total losses used to calculate your annual gains limit for 2023 | |||||||||||||||||
| (from line 13 of Part 1 above) | + | 27 | |||||||||||||||
| Cumulative net investment loss to December 31, 2023 | |||||||||||||||||
| (line C in Part 3 of Form T936 for 2023) | + | 28 | |||||||||||||||
| Total capital gains deductions claimed after 1984 and before 2023 (line 254 on your returns for 1985 to 2018 and line 25400 of your returns |
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| for 2019 and later years) | + | 29 | |||||||||||||||
| Total of lines 24 to 29 | = | ► | – | 30 | |||||||||||||
| Line 23 minus line 30 (if negative, enter "0") | Cumulative gains limit for 2023 | = | 31 | ||||||||||||||
| If line 31 is zero, do not complete the rest of this form, because you cannot claim a capital gains deduction for 2023. | |||||||||||||||||
| T657 E (23) | |||||||||||||||||