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D
dsouzajm
Level 1
March 5, 2026
Question

T3 Net Capital Loss from 2024 to be applied to Capital Gains in 2025

  • March 5, 2026
  • 1 reply
  • 5 views

Using One Pay T3.  Held back in trust net capital loss carryforward from 2024 ($160) against 2025 beneficiary capital gains to apply loss on T3.  Income in trust is zero but is generating a tax payable.

1 reply

R
rdenis
Level 4
March 28, 2026

Not knowing what type of trust you have, but I would hazard a guess you are triggering minimum tax.  Check Schedule 12.  If its a life interest trust (eg. alter ego, spousal, joint partner etc.), you will need to make a 104(13.2) election on the Allocation of Income and expenses to beneficiary worksheet.

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