Step 4-Capital losses

Warning:

This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

If you have no current year capital losses or prior year net capital losses, go to step 7. Otherwise, read on.

From your Capital gain or capital loss worksheets, add up all your capital losses for 2001-02 and make a note of this amount. Remember that you do not include:

• capital losses from personal use assets
• capital losses from collectables or
• capital losses that are disregarded.

If you have a current year capital loss, go to step 5. If you have only prior year net capital losses and no capital gains, go to step 6.