What do you do when you have a capital loss?
If you have a capital loss, you can use it to reduce any capital gains you had in the year.
If your allowable capital loss is more than your taxable capital gain, you may have a net capital loss.
You can use a net capital loss to reduce taxable capital gains in any of the 3 previous years, or in any future year. You cannot, however, use this loss to reduce any other income. For information on capital losses, see Capital losses and deductions.
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