No, the loss amount is carried forward as is.
AND, once you get a capital gain, you deduct the loss BEFORE you do the 50% reduction for holding the asset for over 12 months.
i.e.,
carrying forward a $100K loss
years later you sell an asset you have held for 10 years and realise a $100K capital gain.
The loss simply wipes out the gain. You lose the benefit of the 50% reduction you would otherwise have received.
Don't you just love the Tax Act?????????
Marg