Non capital loss carryforward is not being allowed to be claimed

What is the exact error message that you are getting? 

The error message says "the prior year loss you are claiming in 2024 cannot be greater than the loss available for carryforward".  

My LOSS worksheet shows a non-capital loss from prior years of $1010.88 available to be used.  Even if I put $1 in the column 2024 to be claimed, this error still shows up. 

Thanks,

Will Turbo Tax software allow me to submit through Netfile with CRA if this error is skipped since the notice of assessment shows this is an allowable claim for 2024 ?  

When it's under Errors, you must fix it before being able to NETFILE, or you won't be eligible to use this option.

For now, CRA is asking everyone with Gains/Losses to wait before using NETFILE, because some details in some forms can create error or even amounts not being reported properly.

We have updates planned for this week. We will inform you in this thread as soon as we can.
 

Thank you for your patience.

Hello, have their been any updates to report?  I have not seen a software update so I assume any changes would be made through a software update?

Thanks,

We had two updates this week. Can you confirm if your issue is resolved? 

Thank you for choosing TurboTax

Hello...I'm a different user but I'm getting the same message.

I updated my turbotax today and I'm still getting the same error message : "The prior-year loss you are claiming in 2024 cannot be greater than the loss available for carryforward."

Hi there,  no the issue was not resolved with the update.  Since it is a carryforward item available for use in future years, I have not claimed this year but also there were other Netfile issues this year between TurboTax and CRA as seen on other threads so once these were resolved, I finally filed through Netfile - I have confirmation it went through.  Disappointed with this added stress and unresolved issue. 

@sclair Were you able to Netfile?

@EAS inc We are happy to hear that you were able to return to Netfile. Thank you very much for your patience. 

Yes I was able to Netfile. 

The only reason the user could netfile is because they did not use their carryforward noncapital loss. There is still an issue with turbotax - I am having the same problem with the same error message.

Please fix this!

I have the same issue and thought I was doing something wrong but spoke with a CPA friend and it's a bug in turbotax. I did go back and review it, then clicked ignore in a couple of spots, and was able to netfile despite the warning.

I am unable to use my capital loss carry forward againsted my capital gains. If I override the field I cannot net file.

I run into this problem as well, I have no contacts from CRA like other friends. Can Turbotax fix this problem as soon as possible.

Hello @xpandora @farr38 @cyan, 

This validation is triggered when the requested non-capital loss claim surpasses your 2024 income. Please be aware that the deductible amount is restricted to the lesser of the available non-capital losses and your 2024 income.

To rectify this, access the "Losses" topic within the "Deductions" section of your 2024 tax return, select "Non-Capital Loss Carry Forward," and revise the claimed amount to align with, but not exceed, the income amount displayed on the step Non-Capital Losses Being Claimed as illustrated in the image below. 

Hope this helps with the correction. Let us know if you have more questions.

Thanks Jessican for quick reply, my income is 2100$,  however I have tried 1$, 100$, 1000$, none of them works.

Just like the first message in this topic.

Hi @cyan, to provide the most accurate support, I need to know if you're using the Desktop or Online version. Additionally, a screenshot of the specific step where you enter the claim amount would be very helpful. Could you please provide these? Thank you!

Hello Jessica,

I am using Desktop version, please check the screenshot, let me know if you need more information.

@cyan Thank you for providing the information.

On the Losses screen, at the right bottom of the software, can you click "Show Form" and review if the amounts recorded in the form match your entry?

the information has been recorded at right place.

Hi @cyan , please also review your Quebec income (as reported on your TP1) because it might not be the same as your federal income (on your T1). If there's a difference, make sure the non-capital loss you claim under  Quebec column doesn't exceed your TP1 income. It's perfectly normal to have different carryforward amounts for federal and Quebec tax purposes. 

Thanks Jessica for quick reply.

I have checked both Quebec form and income, both seems good as well, however Turbotax complain this is an error needed to be fixed.

Hi @cyan , 

Without specific information about your tax return, it's challenging to determine the precise reason for the issue.

However, from a general tax-planning perspective, if claiming the credit doesn't decrease your current tax liability, it could be beneficial to defer the credit for use in future years. TurboTax will automatically transfer any unused non-capital losses to future years (see the "Transfer to 2025 Summary" section under REVIEW).

For information on the duration of carry-forward periods, please check the CRA's website: Line 25200 – Non-capital losses of other years .