If you claimed a reserve in the previous year, include that reserve in the calculation of your capital gains for the current year.

For example, if you claimed a reserve in 2022, you have to include it in your capital gains calculation for 2023.

Claim the new reserve that you have calculated for 2023 in the appropriate area on Form T2017, Summary of Reserves on Dispositions of Capital Property.

If you still have an amount that is payable to you after 2023, you may be able to calculate and claim a new reserve.

However, you will have to include it in your capital gains calculation for 2024.

Forms and publications

• Guide T4037, Capital Gains
• Form T2017, Summary of Reserves on Dispositions of Capital Property