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Deferring Capital Gains

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I sold options which I was partially paid in 2023. I will be paid the remainder in 2024 and 2025.

The options income is included in my T4 statement in line 14, and the tax on the full amount was withheld in 2023.

I would like to defer the capital gains taxes.

I added the capital gains to my Scheduler 3 and entered a reserve on disposition amount. I also included the T4 line 38 amount in the field "Stock Option Benefits Included as Employment Income". However, when I include the T4 line 38 amount the T2017 (Summary of Reserves on Dispositions of Capital Property) form is not generated. If I remove the T4 line 38 amount from the schedule 3, the T2017 form is generated but I am double taxed on the capital gains.


How do I properly enter the capital gains deferral or reserve in UFile?



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  • 5 weeks later...

I have similar problem. I transferred ownership of cottage to children. I want to defer capital gains and take in 20% per year. The ufile system is calculating / recording double the capital gain it should. 

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I was able to solve my problem. 2 issues. I should have recorded the gain under Personal Use Property. And 2, on the first year of reserve, leave the reserve fields blank. Ufile will deduct the amount I declared as a gain and complete the reserve fields. Next year if ufile doesn't carry forward reserve I will have to enter it.

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