got stock long time ago.
cost me - lets say, $10 000.00
in 2016 stock (shares) migrated as a penny stock from Toronto to pink sheet OTC, assume it was worth $1.00
now, TD is not selling OTC penny stock anymore (used to)
to get rid of the dead body one can only fill up Deed of Gift form to remove it from the account. (gift to TD)
TD is not sending any paper/confirmation/ receipt to claim the original cost, or any cost, for tax purpose in 2016.
How one can claim the loss in such a situation ???
by the way- on green trading summary for 2016 it exists as DFNCT -no cost or proceeds given.
on new this year, TD form T5008/RL-18 it does not exist at all???
thanks
TD stock gift in 2016
Re: TD stock gift in 2016
If you completed the 'deed of gift' in 2016 then I'd say you can claim your loss.
Record it on your Schedule 3 with Proceeds of Disposition = zero and Adjusted Cost base = your cost.
Record it on your Schedule 3 with Proceeds of Disposition = zero and Adjusted Cost base = your cost.
- always_learning
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Re: TD stock gift in 2016
me thinking the same
thanx a lot
will do it as u said.
thanx a lot
will do it as u said.
Re: TD stock gift in 2016
small correction/add
one shell also fill it up a form CAPITAL GAINS ON GIFTS OF CERTAIN CAPITAL PROPERTY
total dispositions in 2016 write on line 132 of sch. 3
one shell also fill it up a form CAPITAL GAINS ON GIFTS OF CERTAIN CAPITAL PROPERTY
total dispositions in 2016 write on line 132 of sch. 3