Intuit Financial Community: Non-capital loss use against employment income? - Intuit Financial Community

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Non-capital loss use against employment income?

#1 User is offline   BrianR Icon

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Posted 24 March 2011 - 03:55 PM

I have a client who has ~$750 non-capital losses from 2003 expiring this year. For some reason, ProFile is using $650 of these losses against this year's income... but this client only has employment (T4) income. Has this happened to anyone else? I can't make sense of why it would be doing this, could I be missing something?
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#2 User is offline   BrianR Icon

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Posted 24 March 2011 - 05:05 PM

This is correct (auto using 111(1)a), and of course the loss is applied to employment income. The confusion stemmed from why it is now finally using these old non-capital losses, but I didn't realize that client has never had income exceeding non-refundable tax credits until this year. Silly pre-coffee confusion on my part.
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