I am a resident of the US with a RRSP back in Canada. Every year I file a T1 and elect to file under section 217. The withdrawals are under $20,000 and I have no employment income so it advantageous for me to do this.
In Schedule A, World Income, we are asked to report interest, dividend, and capital gains from Non-Canada sources.
In the case of a world (US) capital loss rather than a gain, is there any way to carry the loss forward so that it can be used in future years to offset cap gains?
When I lived in Canada, I used Schedule 3 report cap gains etc. However, I assume that Schedule 3 is meant for Canadian sourced capital gains or losses only. Schedule 3 handles the carry forward of losses automatically, but there seems to be no way to do this for US sourced cap losses that are reported on Schedule A, World Income.
Section 215 filing
Moderator: Mark T Serbinski CA CPA
