I sold my rental property in the UK in feb 2017 an...

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

I sold my rental property in the UK in feb 2017 and it shows capital gains of -$2170 (so assuming this is a loss?). Can this offset what I have to pay out?

 
1 Reply
Highlighted
Level 2

I sold my rental property in the UK in feb 2017 and it shows capital gains of -$2170 (so assuming this is a loss?). Can this offset what I have to pay out?

The amount calculated, if shown with a - sign, does in fact reflect a loss.  For tax purposes, in Canada, net capital losses can only be applied to taxable capital gains and they cannot be used to offset other income.

v