ABIL

I have a ABIL for 2023 but I don't want to deduct all of it this year, can I just apply some of it and carry forward the rest?

and if so, how do I do this within Turbo Tax

Investors and rental owners

Are you using TurboTax CD/Download or TurboTax Online?

Investors and rental owners

I am using turbo tax online. Should it matter?

Investors and rental owners

No. If your ABIL is being entirely used to lower your Net Income, then you can't choose to carry part of it forward.

 

 

Investors and rental owners

Thanks. But I could elect not to claim my ABIL until next year and for the remaining portion select how much to apply to 2023 or 2022?

Investors and rental owners

You should check with the CRa if you are allowed to do that.

 

If you are in Canada or the United States, you can call the CRA at 1-800-959-8281. If you are elsewhere, you can call 613-940-8495. This page has more ways to contact the CRA: Contact the Canada Revenue Agency