Limited Partnership Loss
The portion of a limited partner's share of the partnership's loss from a business (other than a farming business), property loss or issue expenses related to Québec resources (boxes 1, 3 and 65 of the RL-15 slip) that, because of the partner's at-risk amount, cannot be deducted.
The amount of this loss may, however, be deducted from the partner's taxable income for a subsequent year, up to the amount by which the partner's at-risk amount at the end of the partnership's fiscal period ending in the particular year exceeds the aggregate of the following amounts for the fiscal period:
- the partner's share of the federal investment tax credit;
- the partner's share of the partnership's business losses or property losses; and
- the partner's share of the Canadian and foreign exploration or development expenses.