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Why does my balance due increase as soon as I enter capital gains from T3, but doesn't decrease when I enter capital losses from T3?
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October 30, 2019
9:07 AM
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Self-employed
Does your T3 slip show a negative number? If so which box from the slip is it in?
October 30, 2019
9:08 AM
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Self-employed
No, it's a positive number, but the box is 37, i.e. Capital Losses.
October 30, 2019
9:08 AM
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Self-employed
I understand that part. What I don't understand is why the software slaps a tax on me as soon as I enter capital gains, but doesn't adjust that tax when I enter capital losses. In other words, if my taxable gains are reduced as a result of my losses so should my tax owed. The software simply keeps calculating the tax based on the gains alone.
October 30, 2019
9:08 AM