Error:
Scenario: The company has a 2024 Prior Year Capital Loss of 515,955 and the portion of it amount to 26,012 was utilised against the 2025 Current year capital gain amounting to 26,012.
Solution: Since the remaining balance of 2024 Prior Year Capital Loss is 489,943 (515,955 - 26,012) for CTR 2025 tax return, ensure that the 489,943 remaining carry forward capital loss is declared correctly under the section of the losses schedule "Net capital losses carried forward to later income years".
**Below is the guide on how to update the losses schedule:
Go to Other > Losses and then click "Open Worksheet" to open the losses schedule.
In the lower portion of the schedule, please update the remaining carry forward capital loss in the "Net capital losses carried forward to later income years section".
