Can a non-capital loss for a certain year be carried forward?

Question

2413 viewsOctober 16, 2017

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Anonymous Posted October 16, 2017

Hello,

I had a question on whether a non capital loss for a certain year can be carried fwd by skipping the immediate next year, to be applied 2 or 3 years after.
For example, if I had a 10k non capital loss generates in 2010 and to be carried fwd. If I make $50k net in 2011 and $100k in 2012. Can I opt to apply the carry fwd loss to 2012 rather than 211 ?

If yes, can we push the argument further and decide to not apply the loss for a given year and defer it to be applied in a later year?

Thanks

1 Answer

score 0 · Answer 1 · 2017-10-16T15:01:32+00:00

In your example, you can apply the 2010 loss of $10,000 to the net income earned in the 2012 tax year. The non-capital loss can be carried-forward for up to 20 tax years.

Can a non-capital loss for a certain year be carried forward?

1 Answer

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