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Investors and rental owners
Thank you for choosing TurboTax,
As per CRA, if you have a capital loss, you can use it to offset capital gains and lower your income accordingly. However, if you don’t have capital gains, (If you still have a loss) it becomes part of the computation of your net capital loss for the year. You can use a net capital loss to reduce your taxable capital gain in any of the 3 preceding years or in any future year.
Please visit our Turbotax article on Carrying Capital Losses Backward or Forward
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May 19, 2021
7:24 AM