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Crypto gains and losses from selling, trading or spending as an investor go on Schedule 3, Part 3, line 7, with the taxable half on line 12700 of your T1. Business income from trading or mining goes on Form T2125. A 2026 return is due April 30, 2027, or June 15 for the self-employed.
Which form do you use for crypto gains?
For a capital gain or loss, the CRA capital gains guide T4037 sends you to Schedule 3, Statement of Capital Gains or Losses. Part 3 of the schedule has a line for crypto-assets, line 7. You enter total proceeds on line 15200 and the total gain or loss on line 15301. The taxable half of the net gain then goes on line 12700 of your income tax and benefit return.
Which form applies depends first on a question the CRA asks you to settle: is your crypto activity a business, or is it capital in nature? The table maps the usual situations.
| Situation | Form or line | Notes |
|---|---|---|
| Selling, trading or spending crypto as an investment | Schedule 3, Part 3, line 7 (crypto-assets): proceeds on line 15200, gain or loss on line 15301 | Capital gain or loss. Taxable half goes to line 12700 |
| Trading that counts as a business | Form T2125, with guide T4002 | Business income or loss, reported in full |
| Mining as a business | Form T2125, with guide T4002 | The CRA says mining is in most cases carrying on a business |
| Staking rewards credited on a centralized platform | The CRA page does not name a line | The CRA says such rewards are generally income when credited |
| Net capital loss from another year | Line 25300 to apply it, Form T1A Part 5 to carry a loss back | Offsets taxable capital gains only |
| Changing a return you already filed | Form T1-ADJ | A request to change a T1 return |
The table is a map and not a ruling. Our page on reporting crypto on your 2026 return goes step by step through the return itself.
Where does business income go?
If the CRA treats your trading or mining as a business, you report business income on Form T2125, Statement of Business or Professional Activities. The CRA form page describes it as the form for business or professional income and expenses, with Guide T4002 as the related guide. The CRA crypto pages name T4002 for crypto business income as well.
The CRA lists factors that point to a business: how often you trade, short holding periods, advertising, and your knowledge of the market. It says an isolated transaction can still be business income if it is an adventure or concern in the nature of trade. When it is business income, you report the full profit, not half, and you can deduct allowable expenses against it. Our guides on day trading taxes and the self employed tax return cover the tests and the filing side.
Business income also draws CPP contributions for self-employed people, which Schedule 3 income does not. That is one more reason the label matters.
How do you fill Schedule 3 for crypto?
Work in this order.
- List every disposition in the calendar year: sales, trades, purchases made with crypto and gifts.
- For each, find the proceeds in Canadian dollars, subtract selling fees, and subtract the adjusted cost base of the units disposed of.
- Add the proceeds and the gains and losses for all of them.
- Enter the total proceeds on line 15200 and the total gain or loss on line 15301, in Part 3, line 7.
- Complete the totals in Parts 4 and 5. The guide says Part 5 determines the taxable capital gain or net capital loss.
- Carry the taxable capital gain to line 12700 of the return.
Here is an example with made up numbers, worked in a script.
| Disposition | Proceeds after fees | Adjusted cost base | Gain or loss |
|---|---|---|---|
| Sale of coin A for dollars | $6,000 | $4,500 | $1,500 |
| Trade of coin B for coin C | $5,200 | $6,100 | $-900 |
| Payment for goods with coin A | $800 | $500 | $300 |
| Total for line 7 | $12,000 | $11,100 | $900 |
The total proceeds of $12,000 go on line 15200 and the net gain of $900 goes on line 15301. Half of the net gain, $450, is the taxable capital gain. Notice that the trade of coin B for coin C is a loss that reduces the gain from the other two. Tax software normally fills these lines from your totals, and you should still know what each line means.
Where do you show a loss?
A loss is reported in the same place as a gain: line 15301 of Schedule 3 for crypto-assets. If your losses for the year are larger than your gains, the difference after halving becomes a net capital loss. The CRA says you can apply it to taxable capital gains of the three preceding years or to future years.
To use a net capital loss from another year, you claim it on line 25300. To carry a loss back, you complete Part 5 of Form T1A, Request for Loss Carryback, and the guide says not to file an amended return for the year you carry it back to. A loss is reported even when you have no gain this year, because that is how it becomes available later. Our crypto capital loss page shows examples of both routes. Business losses go through Form T2125.
Do you attach your transaction history?
The CRA pages we read do not ask you to attach a transaction list to the return. They say you must keep records and be able to support the cost and value of each transaction. The CRA books and records page lists what to keep: units, date and time, Canadian dollar value, the nature of each transaction and the other party, wallet addresses, and opening and closing balances with the cost of the opening balance. Keep records for at least six years from the end of the last tax year they relate to.
If you use tax software, check what it asks you to upload, because that is the software's rule and not the CRA's. If the CRA reviews your return, it can ask for the records, which our page on a CRA crypto audit explains.
What is the filing deadline?
A 2026 return is filed in 2027. Most individuals must file and pay any balance by April 30, 2027. Self-employed people and their spouses or common-law partners have until June 15, 2027 to file, but any balance owing is still due April 30, according to the Budget 2026 tax annex, which describes the current rules.
The same annex proposes to change the T1 filing and balance due dates to May 15 for all individuals, for the 2027 and later tax years. That is a proposal until it is passed, and it does not change the return you file in 2027. If you trade as a business, the June 15 date applies to filing only and not to payment. Our 2027 tax calendar lists the dates.
What if you already filed without crypto?
If you left out crypto transactions that you should have reported, the CRA has a form to change a filed return, Form T1-ADJ, T1 Adjustment Request. The CRA form page lists a webform and PDF versions. The page does not describe penalties or relief, so we cannot say here what a late correction costs you.
The CRA also runs a Voluntary Disclosures Program for income tax. A GST/HST memorandum we read says a disclosure is not voluntary once an audit or investigation has started, and that tax owing must still be paid. That memorandum is about GST/HST and refers income tax to a separate circular, so confirm the income tax details with the CRA. Our page on CRA audits and voluntary disclosure goes through what is known. Nothing here is advice for your own case.
This page is information only. We do not prepare returns, we do not represent the CRA or any organization, and we do not guarantee that the figures fit your case.
Frequently asked questions
Which tax form do I use to report crypto in Canada?
For capital gains and losses, Schedule 3, Part 3, line 7 for crypto-assets, with proceeds on line 15200 and the gain or loss on line 15301. The taxable half goes to line 12700. For business income from trading or mining, Form T2125 with guide T4002 applies instead.
Is there a special CRA crypto form?
The CRA pages we read do not mention a separate crypto return. Crypto is reported on the usual T1 return, using Schedule 3 for capital items and Form T2125 for business income. Foreign property and GST/HST can bring other forms, which our related pages cover.
When do I use T2125 for crypto?
When the CRA treats your activity as a business, for example frequent trading with short holding periods, or mining, which the CRA says is in most cases a business. Form T2125 reports business income and expenses. An isolated transaction can also be business income if it is an adventure in the nature of trade.
Do I report crypto if I had a loss?
Yes. Report the dispositions on Schedule 3 even when the total is a loss. A net capital loss can be carried back three years with Form T1A or forward without limit using line 25300. Skipping the report can cost you the chance to use the loss later.
What is the deadline to file crypto taxes for 2026?
April 30, 2027 for most individuals, which is also the payment date. Self-employed people and their spouses or partners have until June 15, 2027 to file, but a balance is still due April 30. A proposed May 15 date applies only from the 2027 tax year.
What do I do if I forgot to report crypto on a past return?
The CRA has Form T1-ADJ to request a change to a filed T1 return, and a Voluntary Disclosures Program with its own conditions. We cannot say what relief applies to your case. Collect your records first and confirm the steps with the CRA or a qualified professional.