For an individual (including a trust) who holds an interest in a partnership as a limited partner or as a specified member (since becoming a member of a partnership), or whose interest in a partnership is a tax shelter, the deduction that can be claimed for the partnership's capital losses, business losses or property losses is limited when it comes to calculating the adjusted taxable income for alternative minimum tax (AMT) purposes.

However, since the 2012 taxation year, such losses have been deductible in the calculation of the individual's adjusted taxable income, except where the individual's interest in the partnership is a tax shelter. The relief measure also applies to the 2003 through 2011 taxation years if the individual filed proof of the election with the Minister of Revenue of Québec before January 24, 2016.