Hi, turbo tax is saying there is an error in that the prior year non-capital loss being claimed this year (2024) cannot be greater than the loss available for carryforward, however, I am claiming exactly the same amount that is available to be claimed in the LOSS worksheet. It is also the same amount that CRA says I have available in last year's NOA. Please help with this problem.
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.