Hi All,
Here is hoping the Forum can provide some insight in the tax implications associated with canadian resource limited partnership flow through investments.
My issue is regarding on how to calculate the adjusted cost basis when I want to sell and report the profits/losses on my tax return.
Am I correct to think that since I got a tax break for the initial investment that the ACB is zero?
The company that provided the investment has subsequently move the matured investment into one of their mutual funds--which has lost money. For tax purposes can I use the value at the date of transfer as the ACB and claim a loss?
A lot of complicated questions and any help the forum can provide is greatly appreciated.
Thanks!
Adjusted cost basis for Canadian limited partnership FTs
Moderator: Mark T Serbinski CA CPA