• Step 11 Work out and show your carry-forward losses

    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 the total of your capital losses for the year and unapplied net capital losses from earlier years is greater than your capital gains, you were directed to this step from step 8.

    Do not write anything at A item 17 on your tax return (supplementary section) or A item 9 if you use the tax return for retirees.

    At V item 17 (or V item 9 if you use the tax return for retirees), write the amount by which the total of your capital losses for the year and unapplied net capital losses from earlier years is greater than your capital gains for the year. You carry this amount forward to be applied against later year capital gains.

    Example 11: Carry-forward losses

    Continuing the example from step 5, if Fred had no other capital losses, he would write $1,125 at V item 17 on his tax return (supplementary section) or at V item 9 if he uses the tax return for retirees. He would leave blank both A and H item 17 on his tax return (supplementary section) or A and H item 9 if he uses the tax return for retirees.

    End of example
    Last modified: 04 Mar 2016QC 19437