Question
Tax Filing for Stock Losses and Potential Audit
I am filing my taxes for 2024 and would like to claim losses from my stock trading that go back to 2021 and 2018. The estimated total refund amount is higher than in previous years. Will this trigger an audit from the CRA?
Under which category should I report my day trading stock losses? In TurboTax, I couldn’t find a category under self-employment to file losses from previous years.
If an audit occurs and I am found ineligible for those deductions, will there be a penalty?
