T657(Part 3a-3d) - fill out and auto calculate/complete form online

Protected B when completed

Part 3a – Calculating your capital gains deduction on qualified farm or

fishing property and qualified small business corporation shares

Complete this part if you are reporting a reserve in 2023 on dispositions of qualified farm or fishing property (QFFP) or qualified
small business corporation shares (QSBCS) to your child in 2014.

Maximum capital gains deduction for QFFP and/or QSBCS disposed of

in 2014

Capital gains deductions from previous years

(line k of Chart 2 on the last page) (see note A below)

–

Capital gains deduction available for QFFP and/or QSBCS disposed of
in 2014 included in your 2023 income (line 32 minus line 33; if negative,

enter "0")

►

Line 3 of Form T2017. If this amount is negative,

enter in brackets. (see note 1 below)

Line 11 of Form T2017. If this amount is negative,

enter in brackets. (see note 2 below)

Line 35 plus line 36. Taxable capital gains from a
reserve on QFFP and/or QSBCS disposed of
in 2014 included in your 2023 income

(if negative, enter "0")

x 1/2

►

Enter the amount from line 34 or 37, whichever is less.

If you did not dispose of QFFP or QSBCS in 2023 and you are not bringing a reserve into 2023 income for any disposition
after 2014, the maximum capital gains deduction you can claim on line 25400 of your 2023 income tax and benefit return is the
lesser amount of lines 14 from Part 1, 31 from Part 2, and 38. You can, however, choose to claim less than the maximum.

25400

Note A

You may have claimed a capital gains deduction for other eligible capital gains amounts from 2014 to 2022. If so, use the
amount you calculate with the following instructions instead of the amount on line k of Chart 2 of this T657 form (line 33 of
this page).

Calculate amount A:

The amount from line k of Chart 2 of your 2014 Form T657 plus the amount of all capital gains deductions you have already
claimed from 2014 to 2022 for this reserve.

Calculate amount B:

The amount of capital gains deductions you claimed for other gains (not the reserve) from 2014 to 2021, minus the maximum
capital gains exemption increase allowed for other gains from 2014 to the year the other gains are reported
(if negative, use "0").

After you calculate amounts A and B, add them and enter the result on line 33.

Note 1

If line 3 of your Form T2017 includes a reserve from a disposition of QFFP in any year other than 2014, remove that part from
the amount you enter here.

Note 2

If line 11 of your Form T2017 includes a reserve from a disposition of QSBCS in any year other than 2014, remove that part
from the amount you enter here.

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Protected B when completed

Part 3b – Calculating your capital gains deduction on qualified farm or

fishing property and qualified small business corporation shares

Complete this part if you are reporting a reserve in 2023 on dispositions of qualified farm or fishing property (QFFP) or qualified
small business corporation shares (QSBCS) to your child in 2015.

Maximum capital gains deduction for QFFP and/or QSBCS disposed of in 2015

Capital gains deductions claimed from previous years

(line k of Chart 2 on the last page) (see note B below)

–

Capital gains deduction available for QFFP and/or QSBCS disposed of in
2015 included in your 2023 income (line 39 minus line 40; if negative,

enter "0") (see note 3 below)

►

Line 7 of Form T2017. If this amount is negative,

enter in brackets. (see note 4 below)

Line 11 of Form T2017. If this amount is negative,

enterin brackets. (see note 5 below)

Line 42 plus line 43. Taxable capital gains from a
reserve on QFFP and/or QSBCS disposed of in 2015

included in your 2023 income (if negative, enter "0")

x 1/2

►

Enter the amount from line 41 or 44, whichever is less.

Enter the amount from line 38 of Part 3a. If you did not complete Part 3a, enter "0".

Line 45 plus line 46. Total amount of capital gains included in your 2023 income that is eligible

for the capital gains deduction

If you are reporting a reserve in 2023 from the disposition of QFFP after April 20, 2015, and before 2016, and each of line 14,
line 31, and line 47 is greater than or equal to line 41, complete Part 3c.

If you are not reporting a reserve in 2023 from the disposition of QFFP after April 20, 2015, and before 2016, not bringing a
reserve into 2023 income for any disposition of QFFP or QSBCS after 2015, and not disposing of QFFP or QSBCS in 2023, the
maximum capital gains deduction you can claim on line 25400 of your 2023 income tax and benefit return is the lesser amount

of lines 14, 31, and 47. You can, however, choose to claim less than the maximum.

25400

Note B

You may have claimed a capital gains deduction for other eligible capital gains amounts from 2015 to 2022. If so, use the
amount you calculate with the following instructions instead of the amount on line k of Chart 2 of this T657 form (line 40 of
this page).

Calculate amount A:

The amount from line k of Chart 2 of your 2015 Form T657 plus the amount of all capital gains deductions you have already
claimed, from 2015 to 2022 for this reserve.

Calculate amount B:

The amount of capital gains deductions you claimed for other gains (not the reserve) from 2015 to 2022, minus the maximum
capital gains exemption increase allowed for other gains from 2015 to the year the other gains are reported
(if negative, use "0").

After you calculate amounts A and B, add them and enter the result on line 40.

Note 3

You must also subtract from line 39 above, the amount from the last line you completed of line 38 of Part 3a.

Note 4

If line 7 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.

Note 5

If line 11 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.

T657 E (23)

Protected B when completed

Part 3c – Calculating your capital gains deduction on qualified farm or

fishing property

Complete this part only if you meet the following conditions:

•

you are reporting a reserve in 2023 from the disposition of qualified farm or fishing property (QFFP) to your child after
April 20, 2015, and before 2016

•

each of lines 14, 31, and 47 are all greater than or equal to the amount on line 41 of Part 3b

Note

For this period, there is an additional $93,200 to the capital gains deduction limit that can only be used after your cumulative
capital gains deduction of $406,800 has been used up. This additional amount does not apply to dispositions of qualified
small business corporation shares (QSBCS).

Maximum capital gains deduction for QFFP disposed of after

April 20, 2015, and before 2016

Capital gains deductions from previous years

(line k of Chart 2 on the last page) (see note C below)

–

Capital gains deduction available for QFFP disposed of after
April 20, 2015, and before 2016 included in your 2023 income

(line 48 minus line 49; if negative, enter "0") (see note 6 below)

►

Line 6 of Form T2017. If this amount is negative,

enter in brackets. (see note 7 below)

x 1/2

►

Enter the amount from line 50 or 51, whichever is less.

Enter the amount from line 47 of Part 3b.

Line 52 plus line 53

Enter the amount from line 51 or 54, whichever is less. Total amount of capital gains included in

your 2023 income that is eligible for the capital gains deduction.

If you did not dispose of QFFP or QSBCS in 2023, and you are not bringing a reserve into 2023 income for any disposition
after 2015, the maximum capital gains deduction you can claim at line 25400 of your 2023 income tax and benefit return is the
lesser amount of lines 14, 31, and 55. You can, however, choose to claim less than the maximum.

25400

Note C

You may have claimed a capital gains deduction for other eligible capital gains amounts after April 20, 2015, to 2022. If so,
use the amount you calculate with the following instructions instead of the amount on line k of Chart 2 of this T657 form
(line 49 of this page).

Calculate amount A:

The amount from line k of Chart 2 of your 2016 Form T657 that only includes amounts claimed before April 21, 2015, plus the
amount of all capital gains deductions you have already claimed after April 20, 2015, and before 2016 in respect of this
reserve. Also, add to this amount the capital gains deductions you claimed after December 31, 2015, to 2022 for this reserve.

Calculate amount B:

The amount of capital gains deductions you claimed for other gains (not the reserve) after April 20, 2015, to 2022, minus the
maximum capital gains exemption increase allowed for other gains from 2015 to the year the other gains are reported
(if negative, use "0").

After you calculate amounts A and B, add them and enter the result on line 49.

Note 6

You must also subtract from line 48 above, the amount from line 47 of Part 3b.

Note 7

If line 6 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.

T657 E (23)