redbeer Posted March 19 Report Share Posted March 19 Hello fellow filers and experts: I am doing a Sec 216 return with 3 rental properties disposed. I have 2 questions. Why is only one property, which had a capital gain, included on the generated Schedule 3? The two with losses are missing. And after capital gains are calculated and transferred to line 12700, what happens with that amount? It does not seem to be used anywhere further to calculate tax. Thank you. Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 19 Report Share Posted March 19 Hello redbeer, Please contactg the CRA and refer to the links below. T4144: Income Tax Guide for Electing under Section 216 This guide contains information needed to elect under section 216 of the Income Tax Act as well as general information for non-residents receiving Canadian-source rental income. This guide is for you if you were a non-resident of Canada for all or part of 2023 https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4144/income-tax-guide-electing-under-section-216.html#dspsng Information Circular IC72-17R6 - Procedures concerning the disposition of taxable Canadian property by non‑residents of Canada – Section 116 https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/ic72-17/ic72-17r6-procedures-concerning-disposition-taxable-canadian-property-non-residents-canada-section-116.html Quote Link to comment Share on other sites More sharing options...
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