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If I’m in a 60/40 type portfolio that my Advisor has “custom” designed, then I buy Vbal (for example), if vbal has many of the same individual stocks as my custom portfolio, is that ok?
Let's say you are already in some kind of 60/40 portfolio. Yes you can sell that and immediately buy VBAL or XBAL, also a 60/40.

Even if they hold many of the same things, they will not be identical properties. You should be able to use the capital loss.

What you'll want to do is take a close look at your current asset allocation (figure out what % are in stocks, % in bonds, and the Canada vs global breakdown) and find the best fit among things like, VBAL, XBAL, ZBAL, VGRO

You will find that none of these are a perfect fit or perfect replacement for your existing holdings. There is some risk involved and you are changing your investments (somewhat), which is why they are not identical properties.
 

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Another thing to check is whether you have capital losses from previous years that CRA already knows about on previous tax returns.
Good point. You should be able to see these on your Notice of Assessment.

These carried-forward capital losses are not automatically applied by the CRA. One has to explicitly claim the credit on line 25300 as your link described.
 
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