Income tax question

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asked Mar 01, 2018 07:01 PM by
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I recently received a T5008 from Questrade with a summary of trades. I don't want to pay an accountant as I have always done my own taxes and I have such a small amount of trades.

  1. Do I need to report short selling of stocks if I have not bought them again and therefore have no capital gains/losses?

  2. Do I need to report DLR.TO/DLR.U.TO transactions? If so, how would I do that? If my case, it was a simple buy DLR.TO, sell DLR.U.TO transaction.

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answered Mar 02, 2018 01:22 PM by
Jin Won Choi gravatar image Administrator

Hi bmclean,

  1. I know you want to avoid asking an accountant, but questions of this nature are best left to them. For what it's worth, I personally don't report gains or losses on short positions until I close them.

  2. Yes, you should report those transactions. You should report them like you report any other trade, except you'll specify transactions in CAD sometimes, and in USD the other times.


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