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Capital Loss against ordinary income


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Hello Mubashar,

Non-capital loss current year
When you apply non-capital losses against other sources of income, it lowers your taxable income for the year. This includes any loss incurred from employment, property or a business.  If you have leftover non-capital losses or unapplied losses from previous years (check your notice of assessment or reassessment), you can generally carry these amounts back up to 3 years by using form T1A: Request for loss carryback.

Line 25200 – Non-capital losses of other years 
Generally, a non-capital loss for a particular year includes any loss incurred from employment, property or a business. If your allowable business investment loss (ABIL) realized in the particular year is more than your other sources of income for the year, include the difference as part of your non-capital loss.

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