Hello @TurT123 , @Gaoolol , TurboTax or any one with Form T1A experience:
1. I read in an older post that to complete the Form T1A to carry-back the current year (2022) capital loss to one or more of the three prior years (2019, 2020 or 2021), I need to fill out the "Net capital loss for carryback" portion of the Form T1A (which I believe is Part 5 of the form). The old post indicated that "the maximum net capital loss that you can carry back is listed. Enter the amount(s) you wish to carry back for each applicable year, then select Continue". I am using the TurboTax Standard (Desktop version) and only see the current year (2022) net capital loss amount listed on Part 5, Line P. I do not see the maximum net capital loss that can be carried back from 2022 to each of the prior 3 years, even though I have used TurboTax for many years. Is this the way it should be, i.e. only the current year net capital loss amount is listed and I need to determine the capital gains reported in the prior 3 years to figure out how much to apply to each prior year?
2. I understand from an older post that the Form T1A is included with the current year (2022) tax return when sent electronically by NETFILE to CRA, and therefore, there is NO need to print the Form T1A and send it by mail to CRA separately. If someone can confirm this, that would be much appreciated.
Thank you in advance for your help!
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