October 31, 2019 4:25 AM
Any Capital Losses you have incurred this year will be applied against any current year Capital Gains and reduce them first. If your losses exceed your gains, you will still not see the loss amount anywhere on this tax return.
- You are given the option to apply any Net Capital Losses to Net Capital Gains in the three previous years or carry them forward. If you choose to carry them back, you will see a T1A form in the PDF copy of your tax return.
- If you do not carry them back, TurboTax will automatically carry them forward for you and you will see an amount on Notice of Assessment (NOA) when you receive it from CRA.