Business -> Filing your return -> Carrying Back Self-Employment Losses
Self-Employment Losses
If you are self employed and had a loss for tax purposes in your latest tax year, the loss can be used to reduce other income on your tax return. The loss from self employment may be a business loss, or it may be a property loss, such as from a rental.
If you had no other income against which to offset this loss, you can carry back this non-capital loss to any of the prior 3 taxation years. To do this, you have to file a form T1A, "request for loss carryback". See the article on changing your tax return. For carry-forward periods, see non-capital losses.
When tax software is used to prepare your tax return, the request for loss carryback can be completed and filed as part of the tax return.
Revised: October 26, 2023