This is a free download of a sample worksheet to calculate the conversion of capital losses to equal what CRA reports to compare to your tax software.
Spreadsheet to convert the CRA capital losses report to 100%. Compare what CRA says on your Notice of Assessment to your calculations year by year to your tax return calculations.
CRA takes your numbers times the effective rate that year to provide you with a number that is a mixed bag. This spreadsheet will help you:
Convert CRA's figures to 100%
Confirm total losses on Notice of Assessment agree to your calculation
How does this work?
Sign up for "My Account" on the CRA website home page and access "My Account" to find the figures CRA posts for your net capital loss carry forwards by year
CRA provides the loss each year at the % used for that year but doesn't show their work. CRA calculates and provides the equivalent of those losses at today's 50% rate on your Notice of Assessment each year as one number. It's up to the taxpayer to proof the numbers.
Use this spreadsheet at your own risk to create your own spreadsheet to proof CRA's figures:
Eileen Reppenhagen CGA does not research or endorse any product or service appearing in ads on this site. Before making any major financial decision(s) you should consult a qualified professional.
