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.
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