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You will use a TP-1012.A Carry-Back of a Loss to report net capital losses that you want to carry back to one or more of the three previous tax years, in order to apply it to a capital gain. This form can also be used:
- To carry back a net loss resulting from a loss on precious property (reduce a gain from the disposition of precious property)
- To carry back a net loss from a restricted farm loss (applied against farm income)
The TP-1012.A Carry-back of a Loss form can be used for either a net capital loss or a non-capital loss.
Follow these steps in H&R Block’s tax software to file your 2015 taxes:
Important: Before you begin, ensure that you told us that you lived in QUÉBEC on December 31st of the 2015 tax year, in H&R Block’s tax software. To do this:
- Click the HOME tab.
- Click the ABOUT YOU icon, and click the Your residence link. You will find yourself here:
Once you have confirmed your residence location, complete form TP-1012.A by following these steps:
- Click the PREPARE tab.
- Click the OTHER icon. You will find yourself here:
- Under the OTHER DEDUCTIONS section, select the checkbox labelled Carry-back of a loss (TP-1012.A-V).
- Scroll to the bottom of the page and click Continue.
When you arrive at the page for Carry-back of a loss (TP-1012.A-V), enter your information in the software.
- Deduction for non-capital losses from other years (Revenu Québec website)
- Line 252 – non-capital losses of other years (Canada Revenue Agency website)