Post by
thomas35 on Mar 06, 2016 9:21am
Tax time
check out this service for making REITS easy at tax time. https://www.acbtracking.ca/
Comment by
seanatis on Mar 10, 2016 6:52am
Don't most online brokerages keep track of this for their clients?
Comment by
thomas35 on Mar 10, 2016 6:59pm
TDWaterhouse hasn't ever supplied me with this information. I don't know about other brokers.
Comment by
thomas35 on Mar 11, 2016 8:50am
If you own 3,000 units of AAR.UN which you bought 1,000 units on three different occasions at different prices. When you sell 1,000 units your broker cannot choose which 1,000 units you are selling. You choose this when you do your income tax return.
Comment by
fiveniner on Mar 11, 2016 9:31am
Ummm... no. You don't just "choose" which shares you are going to sell https://www.theglobeandmail.com/globe-investor/investor-education/the-abcs-of-tracking-your-acb/article17838427/
Comment by
thomas35 on Mar 11, 2016 11:16am
I do not want to get into an argument on this subject. I wonder why the globe & mail doesn't mention return of capital which is the complicated part of REITS when selling them! I don't think they are referring to REITS.
Comment by
fiveniner on Mar 11, 2016 2:24pm
It does mention the ROC - at the end. The ROC is subtracted off the ACB. My last word on the subject is that you do not choose which shares you want to sell. They get pooled in to the AACB.
Comment by
thomas35 on Mar 11, 2016 2:54pm
"The ROC is subtracted off the ACB"? How do you arrive at the ROC. this is what is complicated about selling REITS. That is the advantage of this service and you must know the purchase date to figure it out. You can't average out the purchase date!