No, it wasn’t a good idea. You should report your T5008 in the same tax year of your return. The Canada Revenue Agency (CRA) has this information as well. If you have a capital gain and you don’t report it in your tax return, the CRA may find out and re-assess your return. If you have a capital loss, you can carry back the capital loss up to three years and carry forward indefinitely.
You may be interested to learn more about Carrying Capital Losses Backward or Forward.
If you require further assistance please contact our phone support team or contact us directly on Facebook or Twitter.
Sign In
Canada (English)
EN
