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fffirefly7

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  1. fffirefly7

    Peter

    Thanks for replying Nawal. I went to my 2018 Schedule 3 but don't see any 'capital gain carried forward' amount', only my Taxable capital gains line 199. From my example above that would be the $1000 amount. Line 16 of 'Applying net capital losses of other years to 2018' is the $300 amount in my example. Not sure where I find the $700 (1000-300) amount in the return. Closest I got was on the CRA website My Account under 'View carryover amounts'. There it shows me in the 'Capital Gains and Losses' table in the 'Line 127' column my $1000 amount. In the column 'Net loss applied from previous year' is my $300. If I go to the table below 'Capital gains deduction', amount for 2018 in the column 'Net investment gain/loss' is very close to the $700 amount. It is the only number I can find that makes sense. Hope this hasn't been too confusing. Used the example numbers to keep it simple. If you have a line number for this 'capital gain carried forward from 2018 on the schedule 3' amount you mentioned please let me know. Thanks again.
  2. You shouldn't however you may want to save it first and then carry forward.
  3. fffirefly7

    Peter

    Hello, If I have a total capital loss in 2019 of $6000 (net capital loss of $3000 ($6000 x 50%)) and a gain of $1000 in 2018, I understand that on the T1A form I enter $1000 in the box 'Amount to be applied to 2018' under Net capital loss for carryback. However, in 2018 when I had that gain of $1000 I also carried forward a loss of $300 from previous years. My question then is do I still enter $1000, or $700 (1000-300)? Thanks!
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