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Chart 4 - Applying net capital losses of other years to 2009
If you do not have a balance of unapplied net capital losses from before May 23, 1985, and your 2008 Notice of Assessment or Reassessment shows that you have unapplied net capital losses of other years and/or a 2008 net capital loss, you can use this Chart to determine your net capital losses that can be applied to 2009.
Situation B - If you have a balance of unapplied losses you incurred before May 23, 1985 or you want to keep a breakdown of your unapplied net capital losses, use Chart 5 - Applying net capital losses of other years to 2009, to calculate your available losses. You will have to adjust certain losses you incurred after 1987 and before 2001.
| 1. | Total unapplied net capital losses available from before 2008 (from your 2008 Notice of Assessment or Reassessment) | $ | 1 | |||||
| 2. | Your 2008 net capital loss (from your 2008 Notice of Assessment or Reassessment) | + | 2 | |||||
| 3. | Line 1 plus Line 2 | = | $ | 3 | ||||
| 4. | Your 2009 taxable capital gains (from line 127 of your 2009 return) | $ | 4 | |||||
| 5. | Enter the amount from line 3 or line 4, whichever is less | 5 | ||||||
| 6. | You can apply all, or part of, the amount on line 5 against your taxable capital gains in 2009. Enter on line 6 the amount of losses you want to claim and enter this amount on line 253 of your 2009 return. | − | 6 | |||||
| 7. | Balance of unapplied net capital losses of other years not used to reduce taxable capital gains and available to carry forward to future years (line 3 minus line 6) | = | $ | 7 | ||||
