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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks -- Ignore unavailable to you. Want to Upgrade?

To: PMS Witch who wrote (285)	11/29/2000 11:40:50 AM
From: Chris K.	Read Replies (1) \| Respond to of 548

Thanks PMS, I'll try to ask around and see who is a pretty good tax guy around Montreal. I can usually do the returns myself but this year, I had a little more 'profit' than I expected so I think I'll ask a professional for some advice. Lets see if he can save me some extra tax dollars... BTW, what color is your 'crying-towell', green or red??? Oddly enough, those are also the colors of Christmas!! LOL ;-)) Regards, CK.

To: PMS Witch who wrote (285)	11/29/2000 11:40:50 AM
From: Pied Piper	Read Replies (2) \| Respond to 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