Algonquin Power & Utilities Corp T.AQN

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[Uraniuman308]

Within my non registered account to book a capital loss provision and doubled my position within my registered account.  This was supposed to be a "safe" stock, lol.  What puzzles me is how all the analysts got this wrong, even suggesting they were blindsided by management as well.  Does make one wonder about the credibility of analysts?  I still believe AQN has good assets but the turn around could take time.  I also sold my NPI and moved to BEP which provides a better yield and greater diversification.  Good luck to all! JMO

[TheBridge]

Uraniuman308, from your post I was just wondering, if you book a capital loss in your registered account whether you can then purchase the share in one of your other accounts before waiting out the 30 day period. The way I understood it was that if you wanted to book a capital loss with a particular share you had to wait the 30 days before you could buy it in any of your accounts. Just wondering

[Uraniuman308]

sorry for any confusion.  I sold in my NON registered account (no plans to repurchase) and doubled down in my registered account.  I don't believe capital loss/gains apply to registered accounts.  JMO   

[SargeX]

You are incorrect about beng able to book the capital loss in your non-reg account. It's called the superficial rule where you or any family member cannot buy the same security within a 30 day period. Here's the link and here's part of the text. Be CAREFUL!! https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax

[pennydredful]

chances  of  incompetent CRA   catching  this  slim to none .

[Capharnaum]

The normal way to do this is to transfer your shares from your non-registered account to your registered account. It counts as a sale on the day of transfer so you could book the capital loss. You need contribution room though, to do this.

[RayDonovan78]

Dont think so, if you sell and want to claim a loss in a non registered account, you can not buy the same stock again in any account within 30 days. And yes the CRA will catch it because they get an electronic copy of all non registered sell orders.

[Capharnaum]

I just looked it up, you can transfer the stock but you're right, you can't claim the loss which kinda stinks (since, on the other hand, you have to declare the gain...).

[RayDonovan78]

I did exactly what you thought years ago thinking it was a win win situation until my accountant gave me the no no finger wag....Lol

[pennydredful]

If    you  are   trying  to  put  one  over  CRA   you  cannot involve  an  accountant   as  their "ticket" is  on the line.  

[Tonyde]

Uraniuman308,.  What you could have done is to first buy in your register account,  after the trade settle then you sell the one in your non-registered account.  Unfortunately, you did the opposite.  Well, that's the way we learn!!

[Canoutchie]

Sorry, but if you read the rules on allowable capital losses, then what you're proposing would also be disqualified.  You cannot buy a security, and then sell it somewhere else in the same 30 day period, and expect to claim a capital loss. The CRA Canada Revenue Agency is aware of all the tricks that people try to pull to avoid the 30-day rule, and the income tax code prohibits most of

[RayDonovan78]

Your right 30 days is 30 days. You can not claim a loss whether you buy or sell first. Not worth trying in my opion and a good accountant wont do it anyways.

[Uraniuman308]

yes, lesson learned.  I thought I was safe because I was buying in a registered account and selling in a non registered one.  Thanks