Prior year losses may not appear immediately on your return. Here's how to handle different types of losses:

Net capital losses (line 25300)

1. The maximum claim on line 25300 is your taxable capital gains (line 12700) for the year
2. Wealthsimple Tax limits your claim to the amount on line 12700
3. After optimizing, we may suggest claiming a lesser amount
4. Unused amounts carry forward to next year

To adjust your claim:

1. Go to the Review & optimize section
2. Click on the Review & Optimize button
3. Go to the Summary > Optimizations section
4. Expand the Credits and deductions table
5. Find the Prior-year net capital losses row
6. Adjust the optimization as needed

Non-capital losses (line 25200)

1. These apply after the optimizer runs
2. For linked profiles, complete both profiles before these deductions appear
3. Oldest losses are used first

To adjust your claim:

1. Follow the same steps as for net capital losses
   
   • The row will be Prior year non-capital losses

Note: Changing claimed amounts may affect your tax outcome. Consider the impact carefully.

For help entering prior year losses in Wealthsimple Tax, contact our support team. For advice on how to best utilize your losses please consider consulting a tax expert.