New Member

posted Mar 1, 2024 8:23:33 PM

Can I Apply Investment (2023)T5008 losses backwards to offset my Rental Property Capital Gains from (2021)? Do I have to complete 2023 T1 before submitting T1a1

Investment Losses from Mutual Funds/ Stocks disposition

0

1

1760

1 Replies

Moderator

Mar 2, 2024 11:03:24 AM

Yes, you can carry back you capital losses up to 3 years.

This FAQ tells you how to fill out the T1a form in TurboTax: https://turbotax.community.intuit.ca/turbotax-support/en-ca/help-article/tax-return/carry-back-net-capital-loss-stocks-bonds-mutual/L8bLjw4vR_CA_en_CA?uid=ltaga5cf