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To: WINDSURFER50 who wrote (101)4/26/1998 8:07:00 PM
From: Scott Mc  Respond to of 11633
 
Tomas,
My understanding of the way this happens, is that you will get a T3 or T5 showing the $1 was a return of Capital (No tax) and now the onus is on you to recalculate your cost basis to $9 for from $10 and report a capital gain of $3 when you sell at $12. (similar to mutual funds if you are cashed some in)



To: WINDSURFER50 who wrote (101)4/26/1998 9:00:00 PM
From: David Culver  Read Replies (1) | Respond to of 11633
 
You only report when you sell the stock if it is non taxable a t5 is not issued. It is up to us to keep track of the adjusted cost basis. If this goes to 0 a capital gain must be reported even if you did not sell.

Dave


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