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se352255
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I have rental income losses for 2020 but had net rental income for 2017 2018 2019. Can I carry back the losses to previous years?

 
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I have rental income losses for 2020 but had net rental income for 2017 2018 2019. Can I carry back the losses to previous years?

Yes, you're able to carry them (Losses) back for up to 3 years such as 2019, 2018, 2017. If your rental loss is more than your income from other sources, your loss is considered as a Non-Capital Loss, which can be carried back or forward to reduce your tax bill in previous years. To do so, you require the form T776.

 

Please see additional details on Claiming a loss on Rental Property and for information on the T776 Tax Form, click here. 

 

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