Your Net Capital Loss CarryBack amounts will not affect this year's tax return.
As long as you have completed the "Net Capital Loss Carrybacks" page, your amounts will be transmitted to CRA and they will make the necessary adjustments and reassess any years you have applied these losses towards.
When you do the Review using TurboTax Online, in the Tax Savings Opportunities section, click Explore next to "Any losses not applied to the three preceding years can be carried forward and applied against future years", and then "Applies to me". You can then continue to the page "Net Capital Loss Carrybacks". Here you can see how much of a Net Capital Loss you have incurred and make your choice to carry it back, or forward.
ePeggyH
New Member
Kavkam
New Member
zaprap
New Member
Praxius
New Member
redpinesca
Level 1
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.