- Mark as New
 - Bookmark
 - Subscribe
 - Subscribe to RSS Feed
 - Permalink
 - Report Inappropriate Content
 
Where do I claim rental loss from previous years?
I have a rental property that incurred a loss in 2020 which was carried forward to 2021, this past year the property made a profit, how can I apply the loss against it? Thanks!
			
    
	
		
		
		April 5, 2022
	
		
		12:02 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
	
	
- Mark as New
 - Bookmark
 - Subscribe
 - Subscribe to RSS Feed
 - Permalink
 - Report Inappropriate Content
 
Investors and rental owners
If your rental loss is more than your income from other sources, your loss is considered a non-capital loss and can be carried backward or forward. 
To apply your non-capital rental loss carryforward on TurboTax online:
- Open your TurboTax 2021 return. At the top of your screen, select the "Find" icon.
 - In the search bar, type Non-Capital Loss Carryforward, select it from the list and select Go.
 - If you are filing with a spouse, check off the box(es) for the return in which the non-capital loss applies to and press Continue.
 - On the Non-Capital Loss Carry Forwards page, enter the amount of non-capital losses incurred in 2020 that have been carried forward. (Your available losses are shown on your Notice of Assessment or Notice of Reassessment from last year.) Select Continue.
 - Enter the amount of Non-Capital Losses Being Claimed in 2021. Select Continue to save your work.
 
Thank you for choosing TurboTax.
			
    
	
		
		
		April 6, 2022
	
		
		12:26 PM