Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
reeslee7
New Member

CRA has disallowed previous capital losses that I used to reduce my income. What should I look at on my return that I may have done incorrectly when reporting my income?

 
1 Reply

CRA has disallowed previous capital losses that I used to reduce my income. What should I look at on my return that I may have done incorrectly when reporting my income?

Please note that it must be your Net Capital Losses that are eligible to be deducted from your income. You cannot deduct capital losses, which is different from Net Capital Losses because this NCL is calculated by subtracting capital losses from capital gains.

 

If you need further assistance, please reach out to us through our phone support team or contact us directly on Facebook or Twitter where our experts will be more than happy to answer your questions with details in a quick and effective manner.

Thank you for choosing TurboTax.