| Protected B when completed | |||||||||||||||||
| T3 - | Reserves on Dispositions of Capital Property | Schedule 2 | |||||||||||||||
| • | Enter the tax year in the box above. | ||||||||||||||||
| • | Include a completed copy of this schedule with the trust's return. | ||||||||||||||||
| • |
Complete this schedule if you claimed a reserve on the disposition of the trust's capital property at the end of the previous year, or if you are claiming a reserve on the disposition of the trust's capital property at the end of the current tax year. |
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| • |
Use the information from this schedule to complete Schedule 1, Dispositions of Capital Property, Schedule 3, Eligible Taxable Capital Gains, and Schedule 12, Minimum Tax. |
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| • | A trust cannot claim a reserve if, at the end of the year or at any time in the year right after, it was not a resident of Canada or was exempt from tax. This restriction does not apply to a charitable gift of a non-qualifying security. |
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Reserves on dispositions of capital property |
1 Previous year reserve |
2 Current year reserve |
3 Column 1 minus column 2 (see Notes below) |
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| Qualified farm or fishing property | 2351 | 2352 | 1 | ||||||||||||||
| Qualified small business corporation shares | 2321 | 2322 | 2 | ||||||||||||||
| Other property | 2341 | 2342 | 3 | ||||||||||||||
| Total (add rows 1 to 3) | 2363 | 4 | |||||||||||||||
| Notes | |||||||||||||||||
| • | Enter the total from lines 1 and 2 of column 3 on line 2 of Schedule 3. | ||||||||||||||||
| • | Enter the amount from line 4 of column 3 on line 15 of Schedule 1. | ||||||||||||||||
| • | If the amount in column 2 is more than the amount in column 1, use brackets in column 3 to show the negative amount. | ||||||||||||||||
| • |
A trust that makes a gift of a non-qualifying security can claim a reserve of not more than the eligible amount of the gift. If the gift relates to qualified farm or fishing property (QFFP) or qualified small business corporation shares (QSBCS), include the amount on line 1 or 2, as appropriate. Otherwise include a reserve on line 3. For more information and the definition of eligible amount, see Guide T4037, Capital Gains. |
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| • |
Where a previous year’s reserve that relates to the disposition of QFFP or QSBCS is brought into the trust’s income in the current year, and all or part of that amount is allocated and designated to a beneficiary, see the following chapters in Guide T4013, T3 Trust Guide: |
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| o Chapter 3 – Trust schedules and forms, Schedule 1 – Dispositions of Capital Property, Line 15 – Capital gains (losses) from reserves | |||||||||||||||||
| o Chapter 4 – T3 slip and T3 Summary, Box 30 – Capital gains eligible for deduction | |||||||||||||||||
| For additional instructions for reporting the amount on a T3 slip, Statement of Trust Income Allocations and Designations, issued to the beneficiary, see the notes on Schedule T3 SCH 9, Income Allocations and Designations to Beneficiaries. |
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| See the privacy notice on your return | |||||||||||||||||
| T3 SCH 2 E (23) | (Ce formulaire est disponible en français.) | Page 1 of 1 |  |
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