TP-729-V: Carry-Forward of Net Capital Losses

As a resident of Québec, you’ll need to complete the TP-729-V if you want to carry forward to this year:

  • a net capital loss sustained in a previous year
  • the unused portion of a business investment loss, as long as that portion has become a net capital loss and is being carried over as such for the first time

Note: Losses must be carried forward in the order in which they were sustained. This means, you must carry forward the oldest loss first.

Generally, a net capital loss can only be used to reduce the net taxable capital gain for the carry-forward year. However, you might be able to use losses from before May 23, 1985, to reduce income from other sources, to a maximum of $1,000. To do so, complete the Work chart 2 section on the TP-729-V page in H&R Block’s tax software.

Any balance that can be carried forward is calculated using the inclusion rate of ½. Net capital losses from a period when the rate was not ½ (such as 1988 to 2000), will be converted to this inclusion rate when you complete the TP-729-V page.

Where can I enter this?

Follow these steps in H&R Block's 2017 tax software:

Before you begin, make sure you told us that you lived in Québec on December 31, 2017.

  1. Under the PREPARE tab, click the OTHER icon. 


  2. Under the SPECIFIC CREDITS FOR YOUR PROVINCE heading, select the checkbox labelled Carry-forward of net capital losses (TP-729-V), then click Continue.

  3. When you arrive at the Carry-forward – net capital losses page, enter your information into the tax software.