Q&A: Claiming a capital loss

Zoomer | March 1st, 2006

Question: I have a capital loss from 2001. Can I use this against my employment income this year? Or does it have to be against capital gains only? – W.P.

Gordon Pape’s answer: You’re out of luck on this one. Capital losses can only be written off against capital gains. Claims against regular income are not allowed. The good news is that you can carry forward those losses indefinitely. They don’t expire.

Do you have a money question you’d like to ask Gordon Pape? E-mail it to [email protected] and then check our website every week to see if it was chosen for a response. Sorry, we cannot send personal answers.