Schedule 3 Line 7: Reporting Crypto Gains in Canada

17 October 2026 · en-CA · Educational information · No affiliate links

Educational information only, not tax advice. We are not the CRA and are not affiliated with it. Check canada.ca. Last checked: 17 October 2026. Anything marked expected should be re-checked. Examples use made-up numbers. This page contains no affiliate links.

Short answer: The CRA's "Completing Schedule 3" page (written for 2025 returns) has a specific entry, Line 7 – Crypto-assets: total proceeds on line 15200 and total gain or loss on line 15301, in Canadian dollars. A positive Schedule 3 result is the taxable capital gain reported on line 12700; a net capital loss is not reported on line 12700.

What the CRA says

• First decide whether you are carrying on a business trading crypto-assets or disposing "on account of capital". Business income or loss goes by Guide T4002 (see trader or investor).
• If capital: gain or loss = proceeds of disposition minus adjusted cost base (ACB), and outlays/expenses on the Part 3 columns (year of acquisition, proceeds, ACB, outlays and expenses, gain or loss).
• Crypto-assets are described as including cryptocurrency, utility tokens, security tokens and non-fungible tokens.
• Trading one crypto-asset for another is generally a disposition, with the value received converted to Canadian dollars (swap example).
• Keep records showing how proceeds and ACB were calculated (records guide).

From Schedule 3 to your return

Part 4 totals gains and losses; Part 5 gives total taxable capital gains or net capital losses. If you have a taxable capital gain, report it on line 12700. The CRA's "Calculating and reporting" page (search excerpt) says a net capital loss is not entered on line 12700; it appears on your notice of assessment and can reduce taxable gains in any of the three preceding years or any future year (see losses and T1A).

Reminders

• You must file a return to report a disposition even if no tax is payable (search excerpt of the same page).
• A superficial loss is generally nil for tax purposes (Income Tax Act, s. 40(2)(g)(i)), so it is not an allowable capital loss. The CRA says you can usually add it to the adjusted cost base of the substituted property if you are the person who acquires that property. We have not read how the Schedule 3 form itself presents it. See the rule explained and ACB example.
• The rule looks at purchases by you or a person affiliated with you (for example your spouse or common-law partner, or a corporation you control) during the 61-day period that starts 30 days before and ends 30 days after the sale, and you or an affiliated person must still own the property at the end of that period (Income Tax Act s. 54, laws-lois.justice.gc.ca, current to 30 September 2026).
• Report in Canadian dollars at the exchange rate in effect on the day of the transaction, per the CRA's valuation page; we did not read the full valuation page.

For the 2026 return

The page we read is for 2025. The 2026 Schedule 3 and line numbers are expected to be similar but are not published yet as far as we checked; confirm in early 2027. The CRA's crypto income page describes one-half of a capital gain as taxable; we treat that rate as expected for 2026 until re-checked (that page was seen as a search excerpt, not read in full).

Proposed, not law: Bill C-31 (CARF) was still in committee in the House of Commons on 17 October 2026 (LEGISinfo); nothing in it changes how you report on Schedule 3 today.

FAQ

Which line is for NFTs? The CRA text lists non-fungible tokens under Line 7 crypto-assets.

Do I attach receipts? The pages we read talk about keeping records, not attaching them.

What we could not verify

• 2026 Schedule 3 form and line numbers.
• Treatment of specific tokens beyond the CRA's examples.
• The 'Calculating and reporting' page was read as a search excerpt (not read in full).
• How the Schedule 3 form presents a superficial loss added to the ACB of the substituted property.
• The CRA crypto income page (source of the one-half inclusion wording) was not read in full here.

Sources (official)

• Canada Revenue Agency, Completing Schedule 3 — 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/completing-schedule-3.html (read in full 17 October 2026; for 2025 returns)
• Canada Revenue Agency, Calculating and reporting your capital gains and losses — 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/calculating-reporting-your-capital-gains-losses.html (search excerpt 17 October 2026; not read in full)
• Department of Justice Canada, Income Tax Act, s. 54 and s. 40(2)(g)(i) — https://laws-lois.justice.gc.ca/eng/acts/i-3.3/ (checked 17 October 2026; current to 30 September 2026)
• Parliament of Canada, LEGISinfo, Bill C-31 status — https://www.parl.ca/legisinfo/ (checked 17 October 2026)