Line 127 - Capital gains

You may have a capital gain or loss when you sell or transfer capital property. Some common types of capital property include land, buildings, shares, bonds, fund and trust units.

What's new

Changes for the 2006 tax year that are specific to capital gains and losses. Also included are income tax changes that have been announced, but are currently not law.

Forms and publications you may need for capital gains

Glossary of terms related to capital gains.

Frequently asked questions about capital gains.

Completing your income tax return

On line 127, enter the positive amount from line 199 on your Schedule 3. If the amount on line 199 on your Schedule 3 is negative (a loss), do not claim the amount on line 127 of your tax return. We will register it on our system. Keep track of this loss, which you can use to reduce your taxable capital gains of other years.

If you need detailed information on how to report your capital gains or losses, see Completing Schedule 3.

Related topics

• Line 217 and 228  -  Business investment loss
• Line 252- Non-capital losses of other years
• Line 253 - Net capital losses of other years
• Line 254 - Capital gains deduction
• Non-resident dispositions