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T1A - UFile Windows - Carryback net capital loss


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I recorded my net capital loss for 2022 and also completed Part 5 of T1A (Net capital loss for carryback) and attributed my 2022 loss to 2021 capital gains (where I did pay some tax).  However I am not seeing any change in my 2022 tax due?  Am I missing anything? can anyone provide some insight as to how this T1A works?


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Hello WellDone,

The CRA allows you to carry net capital losses back up to three years.  To carryback a capital loss, fill out section II on form T1A, Request for Loss Carryback. You do not have to file an amended return for the year to which you want the loss applied.


Applying net capital loss from previous years


You have capital gains in the current taxation year. However, you have sustained some capital losses in the previous years.


You can request both the federal and provincial governments to have these net capital losses carried over to be applied against the current year's capital gains.


To carry over these losses using the program, please follow these steps:


1-On the "Left side menu on the Interview tab", select "Interview setup".


2-On the page appearing on the right, go to the group "Carryforward amounts and prior year information", check the box "Losses of prior years, carrybacks". Click "Next" at the bottom of the page.


3- Return to the "Left side menu on the Interview tab" and select "Losses of prior years and carrybacks".


4-On the screen generated on your right, go to the "Losses of other years" group and choose the line "Net capital losses of other years".


5-On the page that appears, enter the losses from previous years in the appropriate fields. You should first enter your capital gains.


The amounts will be reported to line 25300 of the federal returns and line 290 of the Quebec return.


The program will generate for the federal form "Applying net capital losses of other years to 2020" and Quebec form TP-729.


For more information, please visit the following CRA link:




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  • 3 weeks later...

@BLSM So what you're saying is that completing the T1A will not mean that Ufile will calculate what will be refunded, the tax to be paid or refunded remains the same, but at some point later the CRA will adjust the prior years NOAs and send me the refunded amount of tax I paid in prior years?  This isn't very clear as I was expecting Ufile to calculate what the CRA will be paying me back.  I just want to confirm my understanding from what you stated, as otherwise I'm seeing no effect from completing the T1A.


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Hi Thor, same issue/question as you. My guess, same as BLSM. 

Applying a loss from 22 vs gain in 20. Thought the program would show me how much I would be getting back but there's no difference with or without the T1A filled out. 

**Any clue if we should be entering the full capital loss in the T1A or just 50%?

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As far as I know, UFile is only calculating this year's tax.  

The T1A belongs to a different year, and when you send it in, it will be dealt with separately, at least in my experience.



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Hello LOU23,

The T1A does not affect the current year's tax return. The CRA and Revenu Québec will reassess the corresponding year's tax returns based on the information in the T1A or TP-1012. They will issue you a report later.

Regarding full capital loss in the T1A or just 50%?  : For Stock / Share loss must include the inclusion rate of 50%

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