Capital Gains Exemption Deduction

Whats new for the capital gains exemption deduction

capital gains exemption

The lifetime capital gains exemption deduction, if you dispose of shares in a qualified small business corporation, is $813,600, or $1,000,000 for a qualified farm property or qualified fishing property. If you have already claimed the $100,000 personal capital gain exemption (ended in 1994) then this reduces the available lifetime capital gains exemption. You must also verify whether you have claimed allowable business investment losses (ABIL) in prior years or have cumulative net investment losses (CNIL) as of December 31, 2015, as these items will also affect the amount of exemption that can be claimed.


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