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Protected B when completed
 
Chart 2019 – Capital gains deduction
 
Part 1 – Qualified farm or fishing property (QFFP) and qualified small business corporation shares (QSBCS)
 
Complete this chart if you are reporting a reserve in 2024 on dispositions of QFFP or QSBCS to your child in 2019.
 
Maximum capital gains deduction for QFFP and/or QSBCS disposed of in 2019   A
   
Enter the last amount that you calculated for "Total amount of capital gains included in
2024 income eligible for the capital gains deduction" from 2015 to 2018. If you did not complete		  
charts for 2015 to 2018, enter "0".   – B
   
Amount A minus amount B   = C
   
Capital gains deductions from previous years from line 19 of Chart 2 (1)   – D
   
Capital gains deduction available for QFFP and/or QSBCS disposed of in 2019 included in  
your 2024 income: amount C minus amount D (if negative, enter "0")   = E
   
Amount from line 6 of Form T2017 (do not include
reserves from dispositions of QFFP in any year
other than 2019) (if negative, show in brackets)    F
Amount from line 14 of Form T2017 (do not include
reserves from dispositions of QSBCS in any year
other than 2019) (if negative, show in brackets)   +  G
Taxable capital gains from a reserve on QFFP
and/or QSBCS disposed of in 2019 included in
your 2024 income: amount F plus amount G		  
(if negative, enter "0")   =   x 1/2 =   H
 
Enter whichever is less: amount E or amount H.   I
 
Enter amount B from above.   + J
   
Total amount of capital gains included in 2024    
Amount I plus amount J income eligible for capital gains deduction   = K
 
Enter whichever is less: line 18 of Step 1, line 17 of Step 2 or amount K above.
If you are not reporting a reserve in 2024 income from the disposition of QFFP in 2019, are
not bringing a reserve into your 2024 income for any disposition of QFFP or QSBCS after 2019,
and are not disposing of QFFP or QSBCS in 2024, this is the maximum amount you can claim on  
line 25400 of your 2024 return. However, you can choose to claim less.   L
If you are reporting a reserve in 2024 from a disposition of QFFP in 2019 and amount E above is equal to or less than
the amounts on line 18 of Step 1, line 17 of Step 2, and amount K above, and you want to claim the additional deduction,
complete Part 2 of Chart 2019 on the next page.
Enter claimed amount for line 25400:  
 
(1) If you claimed a capital gains deduction for other eligible capital gains from 2019 to 2023, complete the following
calculation instead:
  • amount from line k of Chart 2 of your Form T657 for 2019, plus
  • amount of all capital gains deductions that you have already claimed from 2019 to 2023 for this reserve, plus
  • amount of capital gains deductions that you claimed for other gains (not the reserve) from 2019 to 2023,
minus 1/2 of the maximum LCGE increase allowed for the other gains from 2019 to the year that the other gains are
reported (if negative, use "0")
 
  Enter the result at amount D.
 
T657 E (24)
Protected B when completed
Chart 2019 – Capital gains deduction
 
Part 2 – Qualified farm or fishing property (QFFP)
 
Complete this chart if you meet both of the following conditions:
• You disposed of QFFP to your child in 2019
• Amount E in Part 1 is equal to or less than all of the following amounts:
  – your annual gains limit for 2024 from line 18 in Step 1
  – your cumulative gains limit for 2024 from line 17 in Step 2
  – the total amount of capital gains included in your 2024 income that is eligible for the capital gains deduction from
amount K in Part 1 of Chart 2019
 
Note: For 2019, there is an additional $66,544 to the capital gains deduction limit that can only be used after your cumulative
capital gains deduction of $433,456 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 in 2019   A
   
Enter amount K from Part 1 of Chart 2019.   – B
   
Amount A minus amount B   = C
   
Capital gains deductions from previous years from line 19 of Chart 2 (1)   – D
   
Capital gains deduction available for QFFP disposed of in 2019 included in your 2024 income:  
amount C minus amount D (if negative, enter "0")   = E
   
Amount from line 6 of Form T2017 (do not include
reserves from dispositions of QFFP in any year
other than 2019) (if negative, show in brackets)     x 1/2 =   F
 
Enter whichever is less: amount E or amount F.   G
 
Enter amount B from above.   + H
 
Amount G plus amount H   = I
 
  Total amount of capital gains included in 2024  
Enter whichever is less: amount F or amount I. income eligible for capital gains deduction   J
 
Enter whichever is less: line 18 of Step 1, line 17 of Step 2 or amount J above.
If you are not disposing of QFFP or QSBCS in 2024 and are not bringing a reserve into your 2024
income for any disposition after 2019, this is the maximum amount you can claim on line 25400  
of your 2024 return. However, you can choose to claim less.   K
 
Enter claimed amount for line 25400:  
 
(1) If you claimed a capital gains deduction for other eligible capital gains from 2019 to 2023, complete the following
calculation instead:
  • amount from line k of Chart 2 of your Form T657 for 2019, plus
  • amount of all capital gains deductions that you have already claimed from 2019 to 2023 for this reserve, plus
  • amount of capital gains deductions that you claimed for other gains (not the reserve) from 2019 to 2023,
minus 1/2 of the maximum LCGE increase allowed for the other gains from 2019 to the year that the other gains are
reported (if negative, use "0")
 
  Enter the result at amount D.
   
 
T657 E (24)