# Gold capital gain - schedule 3?



## GoldGuy (Feb 26, 2012)

I have a capital gain on physical gold, but I can't find any information on where to report the gain. It appears schedule 3 is for capital gains, but I don't know where to report the gain (it doesn't seem to fit into the definition of any of the sections on the form!) 

Help!


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## MrBurns (Sep 12, 2010)

As far as I know, physical flies under the radar.


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## yyzvoyageur (Apr 10, 2009)

Like MrBurns said, I can't imagine someone buying physical gold, later selling it at a higher price, and actually claiming the gain for tax purposes. Maybe it's supposed to be done, but I can't see anyone actually doing so.

Perhaps this is similar to my capital gains on forex question.


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## leoc2 (Dec 28, 2010)

If the adjusted cost base of each coin you sell is under $1000 then you do not need to report capital gain. A gold coin bought for $900 and sold it for $1700 is not reported. I am not a tax expert.

http://www.cra-arc.gc.ca/tx/ndvdls/...m/lns101-170/127/cmpltng/prsnls/menu-eng.html

http://www.cra-arc.gc.ca/tx/ndvdls/...ncm/lns101-170/127/cmpltng/lstd/menu-eng.html

http://books.google.ca/books?id=8Ue...gHih92bDg&ved=0CCsQ6AEwAA#v=onepage&q&f=false


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## Argonaut (Dec 7, 2010)

Don't ask, don't tell. None of the government's business.


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## Homerhomer (Oct 18, 2010)

yyzvoyageur said:


> Perhaps this is similar to my capital gains on forex question.


Yes, and the answer is exactly the same (what Square Root said).


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