| Protected B when completed | |||||||||||||||
Part 3c – Calculating your capital gains deduction on qualified farm or fishing |
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| property, and qualified small business corporation shares | |||||||||||||||
| Complete this part if you are reporting a reserve in 2017 on dispositions of qualified farm or fishing property (QFFP) or qualified small business corporation shares (QSBCS) in 2015. |
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| Maximum capital gains deduction for QFFP and/or QSBCS disposed of in 2016 . . . . . . . | 48 | ||||||||||||||
| Capital gains deductions from previous years (line k of Chart 2 on the last page) . . . . . . | – | 49 | |||||||||||||
| Capital gains deduction available for QFFP and/or QSBCS disposed of in 2016 included | |||||||||||||||
| in your 2017 income (line 48 minus line 49; if negative, enter "0") (see note 6 below). . . | = | ► | 50 | ||||||||||||
| Line C of Form T2017. If this amount is negative, enter in | |||||||||||||||
| brackets. (see note 7 below). . . . . . . . . . . . . . . . . . . . . . . . . . . . | 51 | ||||||||||||||
| Line D of Form T2017. If this amount is negative, enter in | |||||||||||||||
| brackets. (see note 8 below). . . . . . . . . . . . . . . . . . . . . . . . . . . . | + | 52 | |||||||||||||
| Line 51 plus line 52; Taxable capital gains from a reserve on QFFP and/or QSBCS disposed of in 2016 included in your |
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| 2018 income (if negative, enter 0). . . . . . . . . . . . . . . . . . . . . . . . | = | x 1/2 | ► | 53 | |||||||||||
| Enter the lesser of lines 50 and 53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 54 | ||||||||||||||
| Enter the amount from the last line you completed of lines 38 and 47. If you did not complete Part 3a or 3b, enter “0”. | + | 55 | |||||||||||||
| Line 54 plus line 55.Total amount of capital gains included in your 2018 income that | |||||||||||||||
| is eligible for the capital gains deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | = | 56 | |||||||||||||
| Notes | |||||||||||||||
| 6. | You must also subtract from line 48 above, the amount from the last line you completed of line 38 of Part 3a, and line 47 of Part 3b. |
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| 7. | If line C of your Form T2017 includes a reserve from a disposition of QFFP in any year other than 2015, remove that part from the amount you enter here. |
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| 8. | If line D of your Form T2017 includes a reserve from a disposition of QSBCS in any year other than 2015, remove that part from the amount you enter here. |
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| If you are reporting a reserve in 2017 from the disposition of QFFP after April 20, 2015 and before 2016, and each of line 14 from Part 1, line 31 from Part 2, and line 56 is greater than or equal to line 50, complete Part 3d. |
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| If you are not reporting a reserve in 2017 from the disposition of QFFP after April 20, 2015 and before 2016, you are not bringing a reserve into 2017 income for any disposition of QFFP or QSBCS after 2015, and you did not dispose of QFFP or QSBCS in 2017, the maximum amount you can enter on line 254 of your 2017 return is the |
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| lesser of line 14, line 31, and line 56. You can, however, choose to claim less than the maximum. | 254 | ||||||||||||||