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criveirte

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Hello criveirte,

Line 25300 – Net capital losses of other years - FYI

RE : Line 25300 - Net capital losses of other years / Line 12700 - Capital gains.
If you have both capital gains and capital losses, you can offset the capital gains with capital losses until you reach zero. If you only have capital losses, the CRA allows you to use the capital loss to offset a capital gain you originally declared in the previous 3 years (Loss carryback), or you are allowed to carry forward the capital loss into the future

Capital Loss Carry Forward
To enter prior year Capital losses please go to :
>>Interview Set Up >> Carryforward amounts and prior year information 
>>Losses of prior years, carrybacks 
>>Select appropriate class eg. Stocks/Bonds =  Net capital losses of other years 
>>Enter Capital loss

Capital Losses will offset capital gains as follows :
CRA : Line 25300 - Net capital losses of other years / Line 12700 - Capital gains.
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-25300-net-capital-losses-other-years.html
 

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