An individual had an employment income in 2021 of $50,000. They had loss carry forward balances as follows: net capital losses (NCL) ($20,000); non-capital losses (NonCL) ($22,000); and farm losses from full-time farming (FL) ($24,000). What would be the maximum amount of losses carried forward they would claim in 2021?

Multiple Choice

• $20,000

• $46,000

• $50,000

• $66,000

Answer rating: 100% (QA)

The net capital losses that he can claim is 3000 As 3000 is the limit ... View the full answer