Line 930 - Taxable capital gains eligible for deduction
A personal trust that makes a designation on line 921 and has eligible taxable capital gains, also has to designate a portion of the trust's eligible taxable capital gains to the beneficiary for the beneficiary's capital gains deduction.
Calculate the trust's eligible taxable capital gains on Schedule 3. Enter on line 930, the lesser of the following amounts:
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the amount on line 921
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the amount on line 30 of Schedule 3 Where the trust has realized in its tax year both taxable capital gains which are eligible for determining a beneficiary's capital gains deduction, and taxable capital gains that are not eligible, very generally, the rules ensure that a proportionate share of each of the eligible taxable capital gain, and the non-eligible taxable capital gain is allocated and designated to each beneficiary. For more information, see "Box 30 - Capital gains eligible for deduction" on page 73.
Where the trust's taxable capital gains eligible for deduction in the current tax year relate to a capital gain reserve claimed in the trust's prior tax year, see "Line 15 - Capital gains (losses) from reserves" on page 46 and "Box 30 - Capital gains eligible for deduction" on page 73.
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