Q: I seek your help in clarifying how one calculates capital gains in the following circumstances:
1- Say you have shares in a Canadian company whose shares are inter-listed, and you hold shares on both the Canadian and the US side. Assume the shares have differing costs. You sell PART of the said shares that you hold on the US side. Do you estimate the average cost in C$ of ALL your shares for purposes of “adjusted cost base” ? I have assumed yes.
2- This is a different question, and not necessarily related to 1 above.
Say you have shares a Canadian company, say CNQ. Say you bought CNQ in your accounts at two different and unrelated brokerages, for example iTRADE and at RBC-DI. Your CNQ shares are now held at each of these online brokers. Assume the CNQ shares referred to here are held in taxable accounts. You may also have CNQ in tax-deferred accounts, but I have assumed transactions in tax-deferred accounts are not relevant to this question.
Thus, you bought CNQ shares at different times and at different costs. You may also have bought CNQ on both the US$ side and the C$ side. When you sell part of your shares held in your TAXABLE account at iTRADE , is your adjusted cost base the average of ALL your purchases on CNQ in ALL your taxable accounts i.e. both iTRADE and RBC-DI ?
1- Say you have shares in a Canadian company whose shares are inter-listed, and you hold shares on both the Canadian and the US side. Assume the shares have differing costs. You sell PART of the said shares that you hold on the US side. Do you estimate the average cost in C$ of ALL your shares for purposes of “adjusted cost base” ? I have assumed yes.
2- This is a different question, and not necessarily related to 1 above.
Say you have shares a Canadian company, say CNQ. Say you bought CNQ in your accounts at two different and unrelated brokerages, for example iTRADE and at RBC-DI. Your CNQ shares are now held at each of these online brokers. Assume the CNQ shares referred to here are held in taxable accounts. You may also have CNQ in tax-deferred accounts, but I have assumed transactions in tax-deferred accounts are not relevant to this question.
Thus, you bought CNQ shares at different times and at different costs. You may also have bought CNQ on both the US$ side and the C$ side. When you sell part of your shares held in your TAXABLE account at iTRADE , is your adjusted cost base the average of ALL your purchases on CNQ in ALL your taxable accounts i.e. both iTRADE and RBC-DI ?
