We sold our half of a cabin in 2014 and the title transferred in 2014 however we did not receive any money until 2015 do we include sale on 2014 tax?

[filewychfamily]

The money for the cabin will be received over 4 year period - do we have to include this in the 2014 tax return.  We did not receive any money in 2014. 

[fuzzy · Accepted solution]

Yes...You will report the disposition and the resulting capital gain on your 2014 return.  However, as the proceeds were not paid in the year, you will claim a capital gains reserve to spread the gain over the 4 year period .  For more info, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/127/gns/cptlgn/rsr...