Canadian Money Forum banner

1 - 4 of 4 Posts

·
Registered
Joined
·
2 Posts
Discussion Starter #1
Hello, for those that have experience in claiming capital losses to offset a previous year's capital gains, what was the wait time before you got your refund from the CRA?

My 2008 tax return was assessed in early May 2009, but haven't received anything on my claim for a capital loss carryback.
 

·
Registered
Joined
·
465 Posts
Are you requesting to apply a net capital loss from a prior year to your 2008 capital gain?
Or are you requesting to apply a 2008 loss to prior years?

If the former, you use line 253 on your return.

If the latter, you have to request a loss carryback on a T1A Request for Loss Carryback for that particular prior year. Then you do have to wait a few months or more, because they don't necessarily do the adjustments right away.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns248-260/253/menu-eng.html
 

·
Registered
Joined
·
2 Posts
Discussion Starter #4
Hello, I filed a "T1A Request for Loss Carryback," requesting to apply 2008 capital losses against 2007 capital gains.

I got the Notice of Assessment for the 2008 tax year in early May 2009 with the script "We have received your request to carry back a loss to previous years. We will advise you on a 'Notice of Reassesment' if we make any changes to a previous year's tax return." 2+ months and still waiting.
 
1 - 4 of 4 Posts
Top