9:24 pm

February 20, 2018

9:57 pm

September 6, 2020

5:21 am

September 11, 2013

6:35 am

September 6, 2020

10:22 am

February 20, 2018

11:05 am

September 11, 2013

12:09 pm

April 6, 2013

Schedule 3 of the T1 General return is where capital gains are reported.

It is quite obvious from the form what amounts are needed and that the three amounts are what Bill listed.

The form also mentions the T4037 Capital Gains guide that has details for more complicated scenarios.

12:30 pm

March 30, 2017

6:46 am

February 20, 2018

savemoresaveoften saidI will give u a simple example:

Buy $10000 + $10 commission

Sell $11000 + $10 commissionYour capital gain is $980. 50% of that will be taxable.

Hope it is clear now....

Subtract commissions/fees then from buy n sell order to come up with capital gain or loss. In this case a $1,000 gain minus commissions of $20 leads to the final capital gain of $980 reported on tax return.

Reverse if it was a loss the final loss would be after commission is subtracted out:

Sell $10000 + $10 commission

Buy $11000 + $10 commission

Loss = $980

Bottom line subtract commission trading fees out of calculation

7:14 am

March 30, 2017

Bud saidSubtract commissions/fees then from buy n sell order to come up with capital gain or loss. In this case a $1,000 gain minus commissions of $20 leads to the final capital gain of $980 reported on tax return.

Reverse if it was a loss the final loss would be after commission is subtracted out:

Sell $10000 + $10 commission

Buy $11000 + $10 commission

Loss = $980Bottom line subtract commission trading fees out of calculation

wouldnt loss be $1000 + $20 = $1020

10:05 am

September 11, 2013

10:34 am

April 6, 2013

12:35 pm

September 11, 2013

5:50 am

September 11, 2013

That's it. Just change your last sentence in post #14 to

"Proceeds of disposition (net of selling commission) – Purchase cost (including purchase commission) = capital gain/loss".

It's an example of tax wording overcomplicating a simple idea, it's essentially logical to just take your net proceeds in your pocket less your total all-in costs to determine how much you gained or lost.

ACB is just a tax term that in simple terms means purchase price plus purchase-related commission/costs. Of course if you have a mixture of purchase prices due to separate purchase events you use a weighted average to calculate.

7:46 am

April 6, 2013

One needs to report these three things on the tax return:

- Gross proceeds from selling
- Adjusted cost base that includes buying commissions
- Outlays and expenses from selling that includes any selling commissions

Capital gain is then [1] - [2] - [3].

Just report and calculate as Schedule 3 prescribes. It's that simple when one doesn't try to make up one's own way of calculating!

The brokers will be reporting [1] to CRA. If one subtracts [3] from [1] and reports that as [1], then it won't match.

Brokers report that one has sold a total of $10,000 of proceed from selling. One decides to subtract selling costs and reports $9,000 as proceeds from selling. What is CRA going think? One has forgotten to report $1,000 of sales.

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