Options are among the most misreported assets on Canadian returns. Sched3 handles the lifecycle from open to close, groups spreads and rolls for review, and still preserves every contract-level premium, fee, FX amount, exercise, and assignment.
Bring in your broker CSV — Sched3 identifies opens, closes, assignments, exercises, and expirations from your transaction history.
Each contract is tracked from open through its lifecycle. Likely verticals, calendars, straddles, collars, condors, butterflies, and rolls are suggested for confirmation without netting away the individual tax events.
The correct capital gain or loss for each option event appears on your Schedule 3 export, with the supporting detail your accountant needs.
Options create taxable events that don't appear on your slips — Sched3 catches them all.
When you write a call against shares you own, Sched3 keeps the relationship. If assigned, the premium is added to share proceeds and a later-year assignment can require an amended grant-year return. Spreads and rolls stay grouped for review while each opening and closing leg remains separately traceable.
The complete traded-options lifecycle is included with the Active plan.
Manual entry, 1 portfolio, basic ACB & CSV export.
Broker import, superficial loss detection, FX support, splits & DRIPs.
The full workflow: T5008/T3, traded options, crypto, equity comp, corporate actions and accountant export.
Multi-client dashboard, client import links, bulk import, branded reports. Pricing shaped with early-access firms.
Standard listed calls and puts are live today. We’re extending the same review-first workflow into the cases active traders and accounting firms ask for most.
Premiums, fees, FX, expiry, close, exercise, assignment, covered calls, share ACB and proceeds, plus reviewed grouping for spreads and rolls.
A separate, accountant-reviewable workflow for traders whose options activity is reported as business income rather than on capital account.
Futures and forwards, warrants and rights, CFDs, adjusted contracts, and other advanced derivative activity.
Capital-versus-income treatment is a question of fact. CRA generally presumes a holder follows the treatment of the shares and a covered writer follows the underlying; naked writing is normally on income account, although consistent capital reporting may be accepted. Sched3 therefore requires a reviewed choice instead of silently defaulting every trader to capital treatment.
When a put you wrote is assigned, you acquire the shares at the strike price. The premium you originally received reduces your ACB on those shares. For example: you receive $200 in premium for a $50 put, then are assigned 100 shares. Your ACB is $5,000 (strike x shares) minus $200 (premium) = $4,800. Sched3 handles this adjustment automatically.
On capital account, the premium is proceeds when you write the call. If it expires worthless, that grant-date result remains. If assigned, the premium is added to the share sale proceeds instead; an assignment in a later year can require amending the grant year. Buying to close creates a separate closing transaction, so cross-year positions must not be reduced to a single net figure.
Sched3 recognizes standard option contracts and explicit open, close, assignment, exercise, and expiry codes in Wealthsimple, Questrade, and Interactive Brokers exports. If a row says only BUY or SELL and does not prove whether it opened or closed a position, Sched3 blocks that row for review instead of guessing.
Not yet. Business-income options workpapers are coming soon; futures, forwards, warrants, rights, CFDs, adjusted contracts, and other advanced derivatives are on the roadmap. Standard listed calls and puts on capital account are available now. Firms and traders can contact us to help prioritize the next extension.
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