Ventura Cannabis and Wellness Corp CVHIF

Tax write off

[LAG4]

Does anyone know if Ventura can be used as a write off for 2020 tax year under the restructure to CVHIF,. Or do you need to sell the CVHIF shares, or can they be sold,,. Must me a write down somewhere,.

[Helenq]

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[dileas48s]

Assuming you are talking about shares that are currently in a taxable account (not an RSP, RESP, or TFSA) then the only way to realize your loss is to sell them.  I think another poster on here also suggested you could relinquish the shares to your broker (i.e. not sell them but this would be the same as selling them for $0.00). The loss would then apply in the year you sold them

[LAG4]

Thanks for your detailed and worthwhile reply. Convoluted to say the least. I will go back and review prior posts.

[BubbaNeedsMoney]

He basically said that you need to sell the CVHIF shares to claim the loss. The name change from VCAN to CVHIF was only a name change, you can not use it to claim a loss.