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New Member
posted May 5, 2023 10:56:44 AM

I have unused non capital losses from other years. can i use some of this to reduce 2022 income?

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1 Replies
Returning Member
May 10, 2023 7:38:29 PM

Thank you for your question.

As per the Canada Revenue Agency (CRA), you can generally carry a non-capital loss arising in tax years ending after 2005, back 3 years and forward 20 years. The CRA also states that - You can apply your net capital losses of other years to your taxable capital gains in 2022. To do this, claim a deduction on line 25300 of your 2022 income tax and benefit return

For more helpful information here is a link from the CRA website: Line 25200 – Non-capital losses of other years. 

 

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