I am a USC in Canada. I held a mutual fund in my RESP because I planned badly. I have used mark-to-market on the 8621 form every year since I have held this fund. I finally sold it during 2018.
a) Do I need to file an 8621 for it for 2018?
b) Do I claim this as a capital gain (loss), based on my fair market value as of the end of 2017?
c) If it's a loss, can I carry that loss over?
Thanks in advance!
Simple 8621 questions
Moderator: Mark T Serbinski CA CPA
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Simple 8621 questions
Not a professional opinion.
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- Posts: 245
- Joined: Tue Aug 30, 2011 12:15 am
Re: Simple 8621 questions
A little further info … I guess I'm still unclear after reading the instructions for the form; I am not sure if the form is required if I held the fund at any time during the year, or if it's only needed if it's owned at the end of the year. I found some other posts (MGeorge) that were close to this, but none that specifically addressed it ..
Not a professional opinion.