|
T1
462 Carryforwards
  Carryforward of net capital losses on precious property in Quebec |
| Program(s) affected: |
T1 |
 |
Document created: |
02 02, 2026 |
| Tax year(s): |
2025 |
Document last modified: |
|
| Version(s): |
29.01 |
Problem status: |
Pending |
|
My client realized a net capital loss on precious property, but it is not carrying forward for Quebec. Is this correct?
No, this situation is affecting the carryforward of net capital losses related to precious property for the Quebec portion. Specifically, net capital losses resulting from dispositions made during Period 2 (after June 24, 2024) are not being carried forward.
As a workaround, access your client's 2025 tax file and delete the amount for the Quebec jurisdiction under the keyword Amount.lpp . This will ensure that your Quebec return reflects the appropriate treatment of capital losses on precious property by carrying forward the same amount as on the federal return.
|