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I'm reporting a 403(b) account -- because of uncertainty re CRA's new rules. The contributions were all made by my US employer many years ago, while I still worked there. (I did not make contributions myself.) After shrinking a lot in 2008, its value has grown overall since I moved back to Canada and just barely reached the reporting threshold last year.
I have zero accounting background. My question: what is the "cost amount"? I was going to use the overall account value listed on my statements. But after googling "cost amount", I'm not sure.
And, would "0" under "Income (loss)" and "0" under "Gain (loss) on disposition" be correct?
For your pension the cost amount and the year-end value are identical.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
There's a mix of investments in the account. I've never taken money out of it and haven't bought/sold anything within it since moving to Canada. So that's why I assumed "income" and "gain at disposition" would be zero. Does that sound right? (Sorry if this is overly basic.)
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best