New Member

posted Apr 24, 2023 10:03:35 AM

If property is sold with a promissory note to pay later is this considered capital proceeds over several years?

How would that affect capital gains?

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Moderator

Apr 29, 2023 5:37:46 AM

Please see this CRA page for more information: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/what-happens-you-have-a-capital-gain/claiming-a-capital-gains-reserve.html