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01

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How to fill out a T2057 online?

Follow these steps to complete your T2057 form online.

Step 01

Access the form through the PDF editor or download it from the Canada Revenue Agency website.

Step 02

Complete Part 1 with the personal information of the transferor and transferee.

Step 03

List the properties being transferred in Part 2 along with the consideration received.

Step 04

Provide the date of transfer for each property.

Step 05

Enter the fair market value and elected amounts for the properties.

Step 06

Ensure all required fields are completed and the form is signed.

Canada Revenue Agency - Form T2057

What is a T2057 used for?

Form T2057 is used by taxpayers to elect under subsection 85(1) of the Income Tax Act to transfer property to a taxable Canadian corporation on a tax-deferred basis. This form helps document the transaction and ensures compliance with Canadian tax laws.

Who needs to fill out a T2057 form

Taxpayers transferring property to a taxable Canadian corporation under subsection 85(1) of the Income Tax Act.

What is Form T2057 used for?

It is used to elect the transfer of property to a taxable Canadian corporation under subsection 85(1) of the Income Tax Act, allowing for a tax-deferred transfer.

When is Form T2057 due?

The form is due by the earliest date any party must file their income tax return for the year of the transfer.

Can I file Form T2057 if properties were transferred on different dates?

Yes, a separate Form T2057 must be filed for each property transferred on different dates.

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