If you sell a property for more than it costs, you may have a capital gain. List the dispositions of all your properties on Schedule 3, Capital Gains (or Losses).

You will find a copy of this schedule in your T1 income tax package. For information on how to calculate your taxable capital gain, go to Line 12700 – Taxable capital gains.^{Footnote 1}

Gains earned from the disposition of a flipped property are fully taxable as business income, not capital gains. For more information, go to Flipped property rules in guide T4002.

You may be a partner in a partnership and receive a T5013 slip, Statement of Partnership Income. If the partnership has a capital gain, it will allocate part of that gain to you. The gain will show on the partnership's financial statements or on your T5013 slip.

Forms and publications

• Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income
• Guide T4037, Capital Gains

Related link

• Calculating and reporting your capital gains and losses