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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks
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To: PMS Witch who wrote (285)11/29/2000 11:40:50 AM
From: Pied Piper  Read Replies (2) of 548
 
I have some questions on this tax stuff.

1. Suppose I accumulate a position over time at different prices. Then I sell part of this position at the end of the year, in between the highest and lowest costs I have paid. How do I calculate my profit/loss for tax purposes. Do I use the earliest buy or the latest or my average cost or what?

2. Does the 30-day rule apply if it includes the year end? For example, I sell a position for a profit December 20 (say) and buy it back on January 15 (say). Am I considered to have made a profit in 2000 even though I buy back within 30 days?

3. Suppose I sell a position for a profit and a few days later the price tanks. I decide to buy back in. Do I need to buy back the dollar amount of my proceeds or just the number of shares I sold, in order to avoid a tax bill?

Any advice on the above would be most appreciated.

Piper
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