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Protected B when completed
 
Chart 2023 – Capital gains deduction
 
Part 1 – Qualified farm or fishing property (QFFP) and qualified small business corporation shares (QSBCS)
 
Complete this chart if you disposed of QFFP or QSBCS in 2023, or are reporting an amount included in box 30 of a 2024 T3 slip
and the footnote area indicates that the property was disposed of in 2023.
 
Maximum capital gains deduction for QFFP and/or QSBCS disposed of in 2023   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 2022. If you did not complete charts		  
for 2015 to 2022, enter "0".   – B
   
Amount A minus amount B   = C
   
Capital gains deductions from previous years from line 19 of Chart 2   – D
   
Capital gains deduction available for QFFP and/or QSBCS disposed of in 2023 and 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 2023) (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 2023) (if negative, show in brackets)   +  G
Taxable capital gains from a reserve on QFFP
and/or QSBCS disposed of in 2023 included in
your 2024 income: amount F plus amount G		  
(if negative, enter "0")   =   x 1/2 =   H
 
Amount included in box 30 of a 2024 T3 slip and
the footnote area indicates the property was		  
disposed of in 2023     x 1/2 =   + I
 
Amount H plus amount I   = J
 
Enter whichever is less: amount E or amount J.   K
 
Enter amount B from above.   + L
   
Total amount of capital gains included in 2024    
Amount K plus amount L income eligible for capital gains deduction   = M
 
Enter whichever is less: line 18 of Step 1, line 17 of Step 2 or amount M above.
If you are not reporting a reserve in 2024 income from the disposition of QFFP in 2023 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.   N
If you disposed of QFFP in 2024 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 M above, and you want to claim the additional deduction, complete Part 2 of Chart 2023 on the next
page.
Enter claimed amount for line 25400:  
 
T657 E (24)
Protected B when completed
Chart 2023 – 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 in 2023 or are reporting an amount included in box 30 of a 2024 T3 slip and the footnote area
indicates that the QFFP was disposed of in 2023
• 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 M in Part 1 of Chart 2023
 
Note: For 2023, there is an additional $14,405 to the capital gains deduction limit that can only be used after your
cumulative capital gains deduction of $485,595 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 2023   A
   
Enter amount M from Part 1 of Chart 2023.   – B
   
Amount A minus amount B   = C
   
Capital gains deductions from previous years from line 19 in Chart 2   – D
   
Capital gains deduction available for QFFP disposed of in 2023 included in your 2024 income:  
Amount C minus amount D (if negative, enter "0")   = E
   
Taxable capital gains arising from dispositions of QFFP in 2023 included in your 2024 income:  
   
Amount from line 6 of Form T2017 (do not include
reserves from dispositions of QFFP in any year
other than 2023) (if negative, show in brackets)     x 1/2 =   F
 
Amount included in box 30 of a 2024 T3 slip and
the footnote area indicates the QFFP was disposed		  
of in 2023     x 1/2 =   + G
 
Amount F plus amount G   = H
 
Enter whichever is less: amount E or amount H.   I
 
Enter amount B from above.   + J
 
Amount I plus amount J   = K
 
  Total amount of capital gains included in 2024  
Enter whichever is less: amount H or amount K. income eligible for capital gains deduction   L
 
Enter whichever is less: line 18 of Step 1, line 17 of Step 2 or amount L above.
If you 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.   M
 
Enter claimed amount for line 25400:  
 
   
 
T657 E (24)