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J
juanschau-gmail-
February 16, 2023
Question

Can I claim losses on delisted stock (the value is $0)?

  • February 16, 2023
  • 1 reply
  • 0 views
I bought the stocks in 2021, didn't sell them and now the company is inactive.

    1 reply

    Z
    Zack1103
    February 20, 2023

    To claim this loss, even though you are not able to sell the shares, you must record a disposition of the stock for $0 and an immediate re-possession at $0 according to Section 50(1) of the income tax act. You must also mail the CRA a signed letter stating that you would like Section 50(1) of the Income Tax Act to apply to this transaction. 

    Thank you for choosing TurboTax. 

     

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