Hello,
On my 20022 notice of assessment I have about $5683 of capital losses which can be used. However, TurboTax shows I have 0 to apply in Line 25300.
I attach the LOSS form for your reference.
In summary:
- In line 25300 has 0, when I click it takes me to the LOSS form
- The form in the Net Capital Losses shows I have a closing balance of 7195.66 (9) "Balance of unapplied adjusted net captial losses of other years not used to reduce taxable gains".
- Pre-1986 capital loss balance available for 2023 is 0 (8).
- Pre-1986 deductible is 2000 (10).
- The lessor of 8 [0], 9 [7195.66], 10 [0] goes into (11) which is 0
The next line results in a negative amount that can be applied 0 - $3207 = 0
I have 0 to apply, but revenue canada says I have $5683 available as capital losses.
I don't understand why (8), (10) matters. How can I correct 8 & 10 as it will block me from using the capital losses.
Do I need to override the 25300 and enter an amout equal to the capital gains I am offsetting and file manually? Please advise.
Thanks
Pat
