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Level 1
posted Mar 22, 2023 9:20:30 PM

I would like to know how to get clarification on capital loss from previous years. How should I proceed? It was done by an accountant and I have no capital loss shown

Hello all,
I have a question about tax loss and CRA carryover amounts.
My accountant is not very responsive to my requests... I have compiled myself all of my tradings which amounts to the following:
2020: 
realized loss: 261
realized gain: 120
2021: 
realized loss: 3000$
realized gain: 11500$
On the CRA website, there are no carryover amounts displayed... Apart from investing, I am earning non-taxable income so it does not make sense for me to use the realized loss. 
Can anyone shed light on this?
1) Is there a point where brokers merge everything because of the number of trades?
2) What do I need to do in order to be able to realize losses and carry them over future years
Many thanks

0 1 604
1 Replies
Level 2
May 1, 2023 12:40:57 PM

Hi @cyclist87 !

 

Sorry to hear you've been unable to get a timely response/advice from your accountant. In terms of your carry forward question, we do have a FAQ that should be able to guide you:

 

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=lh581x4j

 

Hope this helps, and happy filing!