Question
Using restricted farm losses carried forward against recaptured CCA on final T1
I am filing a final for a client who farmed, he had both non and net capital losses carrying forward. Due to the recapture of CCA on the sale of his farm equipment, he has a positive net income on his farming statement. Profile applied his net capital loss that was carrying forward, but did not apply his non capital loss (It was a restricted farm loss). I tried to research why this would be-any ideas?
