CNIL balanceWhy does the program notify me of a CNIL (Cumulative Net Investment Loss) when I have no investment income?
You probably had in the past some investment expenses, interest income, investment income or you claimed a capital cost allowance.
The program carries the CNIL balance forward year after year, even if in this tax year you have no investment income or interest.
The CNIL balance can reduce your lifetime earnings cap for the year and may change the amount eligible for your capital gains deduction.
We suggest you consult the following link for more information:
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-254-capital-gains-deduction.html
ID: 20191217164628IB.xml
Webpage: KPA330-20191217164628IB.htm