Line 25200 - Non-capital losses of other years
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.
For non-capital losses arising in a tax year ending after 2005, you can generally carry back three years and carry forward 20 years.
Notes
The extension for non-capital losses arising in a tax
year ending after 2005 does not apply to non-capital
losses resulting from an ABIL. Instead, non-capital
losses resulting from an ABIL arising in tax years
ending after March 22, 2004, that have not been
used within 10 tax years continue to become a net
capital loss in the eleventh year.
Non-capital losses resulting from an ABIL arising in tax years ending before March 23, 2004, that were not used within seven tax years become net capital losses in the eighth year.
To carry a non-capital loss back to 2023, 2022, or 2021, complete Form T1A, Request for Loss Carryback, and include it with your 2024 return (or send it separately). Do not file an amended return for the year that you want to apply the loss to.
Your available losses are usually shown on your notice of assessment or reassessment for the previous years.
For more information, go to canada.ca/line-25200 or see Guide T4037, Capital Gains.
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