How do you report losses?

Make sure the distributions from partnerships and trusts that you report at item 13 match the distributions in the distribution statement.

Do not offset losses from earlier years against partnership or trust distributions and record the balance at item 13 on their tax return.

You must report all earlier income years' tax losses separately on your client's individual return at label L1 - Tax losses of earlier income years.

However, you report deferred non-commercial business losses from an earlier year at item 16.