Post by
Karl63 on Jul 17, 2023 3:34pm
30 day superficial loss rule?
Glad that I sold T on Friday at $25.15; I had held for a couple of years and had a capital loss. I would buy it back if it went into the 22's, but I have to work with this 30 day "don't buy back" rule, because the shares were in an unsheltered account. I understand that IF I buy back before the 30 day settlement to settlement date, then I lose the loss deduction? Ok, but is it technically allowed? Anybody understand this better? Thanks!
Comment by
ANALOG GUY on Jul 17, 2023 3:45pm
It depends if the CRA is paying attention. You can still claim the loss if you buy it back within 30 days there's probably a 5% chance the CRA will catch it you will get the dreaded "notice of reassessment " in your email......which tends to cause a rise in blood pressure!