Schedule 3(Page 1) - fill out and auto calculate/complete form online

T1-2024

Schedule 3

Capital Gains or Losses

Protected B
when completed

Complete this schedule to calculate your taxable capital gains to report on line 12700 of your return. If you realized a capital
gain on a disposition, you may be able to claim a capital gains deduction for a qualifying business transfer (line 25395) or
capital gains deduction (line 25400).

For more information about capital gains or losses, including business investment losses, go to canada.ca/taxes-capital-gains.
For help completing this schedule, see Chapter 2 of Guide T4037, Capital Gains.

If you need more space, attach a separate sheet. Attach a copy of this schedule to your paper return.

How to complete this schedule

Part 1 –

Complete this part if you disposed of property in 2024 that was your principal residence and that you are claiming a
principal residence exemption for.

Part 2 –

Complete this part if you disposed of a housing unit, or a right to acquire a housing unit, located in Canada (including
a rental property) that was not already considered inventory and was owned for less than 365 consecutive days
before the disposition.

Part 3 –

Complete this part to report the disposition of different types of property during Period 1 (January 1 to June 24, 2024)
and Period 2 (June 25 to December 31, 2024)

Part 4 –

Complete this part to calculate your total capital gains or losses for periods 1 and 2.

Part 5 –

Complete this part to calculate your taxable capital gains or net capital loss.

If you have a net capital loss

Do not report your net capital loss for 2024 on line 12700 of your return. You can carry it forward indefinitely and apply it against
a taxable capital gain in the future. Your net capital loss, if any, will appear on your 2024 notice of assessment or reassessment.

If you would like to apply the net capital loss you incurred in 2024 against taxable capital gains you reported on your 2021,
2022 or 2023 return, complete Form T1A, Request for Loss Carryback.

Note: If you are completing this schedule for a deceased person, go to canada.ca/taxes-deceased-net-capital-loss.

Part 1 – Principal residence

Complete Form T2091(IND), Designation of a Property as a Principal Residence by an Individual (Other than a Personal Trust),
or Form T1255, Designation of a Property as a Principal Residence by the Legal Representative of a Deceased Individual,
whichever applies.

A deemed disposition occurs when you are considered to have disposed of property even though you did not actually sell it.
For example, a deemed disposition may occur when you change how you use your principal residence, such as when you
change all or part of your principal residence to a rental or business operation, or change your rental or business operation to a
principal residence.

If you were not a resident of Canada for the entire time you owned the designated property, your period of non-residence may
reduce or eliminate the amount of the principal residence exemption. For more information, see Income Tax Folio S1-F3-C2,
Principal Residence.

Principal residence designation

Tick the box that applies to your designation of the property described on Form T2091(IND) or Form T1255.

17900

I designate the property as my principal residence for all of the years that I owned it or for all of the years that

I owned it except one year.

I designate the property as my principal residence for some but not all of the years that I owned it.

I designate the properties as my principal residences for some or all of the years that I owned them.

5000-S3 E (24)

(Ce formulaire est disponible en français.)

Page 1 of 5