Non-Capital Investment Loss

Income tax policy, rules, problems, strategy and software. Property and consumption taxes too.
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dwarren
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Joined: 13 Mar 2015 17:06

Non-Capital Investment Loss

Post by dwarren »

Where does one record a non capital investment loss on their tax return?

Purchased a Put option on the S&P 500 last year, closed out the position at a loss (who know the market would rally with a Trump victory). As the option was not for hedging purposes, I've been told that the loss would be a income loss, not capital loss. I can't find a line item for income losses. Turbo tax doesn't allow for negative investment income.

Have a call into CRA, they are not sure, looking into it. Their first thought was to record it as a business loss, but it's not a business.
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