Algonquin Power & Utilities Corp T.AQN

RE:RE:RE:RE:Sold

[Capharnaum]

SargeX wrote: 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-return/personal-income/line-12700-capital-gains/capital-losses-deductions/what-a-superficial-loss.html

A superficial loss can occur when you dispose of capital property for a loss and both of the following conditions are met:

• You, or a person affiliated with you, buys, or has a right to buy, the same or identical property (called "substituted property") during the period starting 30 calendar days before the sale and ending 30 calendar days after the sale.

 

Uraniuman308 wrote:

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 

 

TheBridge wrote: 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 if I misunderstood the requirements.

 

 

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.