T2 capital Loss carry back

Hi, I am trying to do a loss carry back on schedule 4, first time ever done it, thought it would be as easy as just complete all the number, not sure if I am missing anything, the estimated tax recovery as a result of loss carryback is not giving a revised tax payable for the previous tax year, not sure if I am missing anything.

Hope someone can help. Thanks

TaxCycle does not calculate that for you. You have to do the math yourself. If the 5 year is populated, that can be useful but good idea to confirm on CRA in case there other adjustments to prior periods

Dan Chun, CPA, CGA

Partner, Business Advisor

DIRECT 778.313.1703
PH. 250.763.8919
TOLL FREE 1.877.766.9735
600 - 1628 Dickson Avenue
Kelowna, BC
V1Y 9X1

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I see, first time use this program, so I thought it actually does the calculation once I enter all the figures.

Thank you.