[Verse 1] When profits vanish into thin air, losses pile up everywhere Non-capital wounds need twenty years to heal completely Seven forward, three years back, that's the timeline on this track Business income takes the hit, losses offset bit by bit [Chorus] Twenty-twenty-seven-three, loss carryover recipe Non-capital losses dance through time's corridor Capital gains need capital friends, that's where the matching ends Carryforward indefinitely, but backwards just three years, you see [Verse 2] Capital losses hunt for gains, searching through the tax domains Investment income's their target, nothing else will make the market ABILs play a different game, allowable business loss by name Ordinary income's their prey, when capital gains stay away [Chorus] Twenty-twenty-seven-three, loss carryover recipe Non-capital losses dance through time's corridor Capital gains need capital friends, that's where the matching ends Carryforward indefinitely, but backwards just three years, you see [Bridge] Acquisition of control shifts the ground Streaming rules keep losses bound Same business test or similar property Unlock the vault of loss recovery [Verse 3] Farm losses flow to farming gains, restricted to their own domains Limited partnership holes, passive losses pay their tolls Net capital loss elections, strategic tax law connections Half the loss becomes the shield, allowable amounts revealed [Chorus] Twenty-twenty-seven-three, loss carryover recipe Non-capital losses dance through time's corridor Capital gains need capital friends, that's where the matching ends Carryforward indefinitely, but backwards just three years, you see [Outro] When the corporate ledger bleeds red ink Loss carryovers help you think Past and future income streams Salvage value from shattered dreams
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