Is this you?
- I sold investments at a loss
- I still owed tax
- I wasn't sure how losses apply
"Losses automatically reduce my tax."
Capital losses must be applied or carried deliberately. Otherwise, they do nothing.
Why guessing is risky
- Unused losses sit idle
- Refund opportunities are missed
- 3-year carryback windows close quietly
Safe to ignore if
- No capital losses occurred
- Losses were already applied
Stop and check if
- Past capital gains exist
- Losses were never used
Resolve the doubt
Check my capital loss recovery (2 minutes)We'll tell you if this needs reporting and what to do next.
"Most people discover they can apply today's losses to prior years and recover taxes already paid."