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polar315
New Member

My T5008 for 2022 shows a net loss. When i check the tax detail summary the amount there is 1/3 of the amount. Is that correct?

Is the entire amount of a loss eligible to be applied to subsequent gains? Can that be shared with spouses?
1 Reply

My T5008 for 2022 shows a net loss. When i check the tax detail summary the amount there is 1/3 of the amount. Is that correct?

As per the CRA: You can apply your net capital losses of other years to your taxable capital gains in 2022. To do this, claim a deduction on line 25300 of your 2022 income tax and benefit return. However, the amount you claim depends on when you incurred the loss. This is because the inclusion rate used to determine taxable capital gains and allowable capital losses has changed over the years. 

 

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