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Why do capital losses from this year show up as 0? I want to apply these losses to past years
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posted
March 7, 2021
12:39 PM
last updated
March 07, 2021
12:39 PM
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Why do capital losses from this year show up as 0? I want to apply these losses to past years
There are multiple possible reasons that your capital loss is showing as $0. Ensure that all capital gain/loss transactions have been reported for this year. If you have reported them, it is possible that your total Proceeds of Dispositions are greater than your Adjusted Cost Base (ACB) Therefore, showing you a capital gain. If your capital gain/loss is $0, that implies that your Proceeds and Adjusted cost base are equal, leaving a neutral zero number. TurboTax uses the following equation to automatically calculate your gain/loss on capital (As provided by the Canada Revenue Agency):
Proceeds of Disposition - Adjusted Cost Base + Outlays and Expenses = Capital Gain/Loss
Thank you for choosing TurboTax.
April 21, 2022
10:30 AM