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  • Step 11-Work out your carry forward losses-label V item 17

    Attention

    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 your capital losses were greater than your capital gains, you were directed to this step from step 8.

    If you have capital losses remaining, you should show a '0' (zero) at A.

    At V, show the amount by which all your capital losses are greater than your capital gains. You can now carry these capital losses forward to later income years, until you have capital gains from which to deduct these capital losses.

    Example

    Continuing the example from step 8, with Fred's sale price of $4000, he would show a '0' (zero) at label A and $1075 at label V item 17.

    Last modified: 06 Oct 2009QC 16182