Can I claim my spouse's small business losses as a capital or non-capital loss? She is a sole-proprietor writer who's expenses currently exceed her income.
Can I claim my spouse's small business losses as a capital or non-capital loss? She is a sole-proprietor writer who's expenses currently exceed her income.
Her company is a sole-proprietorship, all of the investment income has come from my regular income.
Can I claim my spouse's small business losses as a capital or non-capital loss? She is a sole-proprietor writer who's expenses currently exceed her income.
No, you cannot claim a loss from a sole-proprietorship that is not your own. And with the new CRA rules regarding "Income Sprinkling" (Tax On Split Income - TOSI), any type of income sharing to avoid taxes is being looked at by the CRA.
October 30, 201910:44 PM
You are leaving TurboTax.
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.
Sign In
Canada (English)
EN
