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I sold my rental property in the UK in feb 2017 and it shows capital gains of -$2170 (so assuming this is a loss?). Can this offset what I have to pay out?
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October 30, 2019
10:30 AM
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Investors and rental owners
The amount calculated, if shown with a - sign, does in fact reflect a loss. For tax purposes, in Canada, net capital losses can only be applied to taxable capital gains and they cannot be used to offset other income.
October 30, 2019
10:30 AM