Can a capital loss be carried forward to another year?

This capital loss can be carried forward to future years, see step 11, and will be recorded at V Net capital losses carried forward to later income years item 18 on your tax return (supplementary section). If you have no current year capital losses or unapplied net capital losses from earlier years, go to step 8. Otherwise, read on.

What is my net capital losses amount to be carried forward?

Your net capital losses amount to be carried forward is the total of any: capital losses from collectables to be applied in future income years from step 4. You will need to keep a separate record of unapplied net capital losses from collectables because you can only use these to reduce capital gains from collectables in later income years.

How long can I carry over net capital losses?

There is no time limit on how long you can carry over the net capital losses. Write this amount (if any) at V item 18 on your tax return (supplementary section). Remember to deduct these losses from any capital gains in future income years. Example 115: Net capital losses to be carried forward – V