Difficulties reporting net capital loss from previous years to claim against 2023 capital gains.

[pchan232tt]

Hello,

On my 20022 notice of assessment I have about $5683 of capital losses which can be used. However, TurboTax shows I have 0 to apply in Line 25300. 

I attach the LOSS form for your reference.

In summary:

1. In line 25300 has 0, when I click it takes me to the LOSS form
2. The form in the Net Capital Losses shows I have a closing balance of 7195.66 (9) "Balance of unapplied adjusted net captial losses of other years not used to reduce taxable gains".
3. Pre-1986 capital loss balance available for 2023 is 0 (8).
4. Pre-1986 deductible is 2000 (10).
5. The lessor of 8 [0], 9 [7195.66], 10 [0] goes into (11) which is 0

The next line results in a negative amount that can be applied 0 - $3207 = 0 

I have 0 to apply, but revenue canada says I have $5683 available as capital losses. 

I don't understand why (8), (10) matters. How can I correct 8 & 10 as it will block me from using the capital losses. 

Do I need to override the 25300 and enter an amout equal to the capital gains I am offsetting and file manually? Please advise. 

Thanks

Pat

[TurboTaxGinette]

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[charlesmitch]

It would be very good to know if this case has been resolved.  And what the answer is!

I am having similar issues with line 25300 on the 2024 Standard desktop version.  It takes me to enter 1985 Loss information - and then limits my amount Loss to apply to $2000.

Where is TurboTax getting this Loss information?  There should be a way to not try and apply 1985 information - as I have no such information (and I do not I how TurboTax would have it...).

I would have posted a fresh case - but I cannot figure out how :(  

Thanks

Charles