Jump to content

Deducting up to $3,000 of capital losses from previous years against ordinary income of this year

Recommended Posts

I have a capital loss from the previous year.

I don't have capital gains this year and would like to use that loss to offset my ordinary income. I should be able to deduct up to $3,000 per year.

I couldn't find how to do this in UFile. I would appreciate if someone could point me in the right direction.

Link to comment
Share on other sites

Capital losses can only be claimed against capital gains from the previous three years or applied to future gains indefinitely. If you had gains in 2020, you could offset your losses in that year. This does not affect your 2023 return.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...