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?
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.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
