ilonka29
New Member

Where do you report losses form trades being sold

Trades were sold with a complete loss, where do I report those losses from stocks/trades?

Getting started

If you have a T5008 slip, you can just enter the slip. If you don’t have a slip, you can enter your losses in the capital gains section.

Ilonka40
New Member

Getting started

I got there but it's confusing since I don't have a slip.  Is it true you can off set 3K against your regular income??
I had stocks trades sold with a loss of over 20K last year what do I do can I claim this for the next few years on my taxes, I don't have any gains just regular work income.

Getting started

The 3k rule is for the US, not Canada. In Canada capital losses cab only be used against capital gains. But if you don't use them, they carry forward for the rest of your life. If you still have losses when you pass away, then they can be used to offset other types of income.

Ilonka40
New Member

Getting started

Oh no, only in US :(  Okay thank you for you help