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Re: Calculating capital gain tax on shares

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Hi,

I have a question on offsetting capital loss from my capital gains.

For example, I have $5000 capital loss from previous years. I sold some shares, which has been held for more than a year, and received a capital gain of $1000. I sold another parcel of shares (only held for less than a year), and received a capital gain of $200.

How do I calculate my capital gain?

Is this correct?

Capital gain = (50% x $1000) + ($200) - $5000 = - $4300 (capital loss to be carried forward to future)?

Thanks,

 

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Taxicorn

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@mcman21 

 

Capital Loss = $5,000

 

Capital Gain = $1000 - $1000 from $5,000 = $4,000 capital loss

Capital Gain = $200 - $200 from $4,000 = $3,800 capital loss carried forward.

 

Capital Gain 18H = 1200

Net Capital Gain 18A = 0

Carried forward loss 18V = 3,800

 

You always subtract loss BEFORE any discounting.

 

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Best answer

Taxicorn

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@mcman21 

 

Capital Loss = $5,000

 

Capital Gain = $1000 - $1000 from $5,000 = $4,000 capital loss

Capital Gain = $200 - $200 from $4,000 = $3,800 capital loss carried forward.

 

Capital Gain 18H = 1200

Net Capital Gain 18A = 0

Carried forward loss 18V = 3,800

 

You always subtract loss BEFORE any discounting.

 

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