T1A - Request for Loss Carryback

Entering this Amount

Carry back a loss (Form T1A)

Complete your return and review it for errors.

TurboTax calculates your losses on the Loss Worksheet and shows you, on Form T1A, the losses that are available to carry back.

In order to carry back a 2023 loss, you should first review your tax returns for the previous 3 years to ensure that there was appropriate income to apply the losses against. Also determine which year it would be most beneficial to carry the loss back to.

Tip: If you have net capital losses, you can find the CRA guide T4037, Capital Gains, along with most CRA publications, at Forms and publications.
  1. If you are using the EasyStep interview, click Forms at the top right of the interview screen.
  2. Open Form T1A. To find this form, use Form Lookup and enter the keyword T1A.
  3. Go to the section that applies to the type of loss you have. You should see an amount available for carryback.
  4. Enter the amount to carry back to the year you choose. You may choose to split the loss over different years as long as each year meets the requirements.
    Tip: Be careful about applying a net capital loss against prior year capital gains for which you had claimed a capital gains deduction, because it may result in interest and penalties.
  5. Submit the request.

    If you are mailing your 2023 return, include the printed and certified T1A.

    Otherwise, submit this form along with your adjustment request.

TurboTax reduces the amount of the loss available on the Loss Worksheet.

Next year, make sure the amount of the loss that you carry forward is correct and does not include any amount that you applied to a previous year.