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Episode 026 – Year End Tax Loss Selling

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Content provided by Moodys Tax Law LLP. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Moodys Tax Law LLP or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this episode of TaxBreaks, Kenneth Keung and Kim GC Moody discuss year-end tax loss selling that is very common towards the end of the calendar year. The objective of tax loss selling is to try to claim losses on non-registered investments against realized capital gains so as to reduce capital gains taxation upon filing of the relevant individual tax returns for the applicable year. But what should you consider? Kenneth and Kim discuss the “30 day rule” known as the superficial loss rule, how to calculate adjusted cost bases, losses that are denied when a “personal-use property” loss is triggered and planning that might be available when transferring property to non-affiliated individuals. Happy listening!

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35 episodes

Artwork
iconShare
 
Manage episode 348715875 series 3020332
Content provided by Moodys Tax Law LLP. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Moodys Tax Law LLP or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this episode of TaxBreaks, Kenneth Keung and Kim GC Moody discuss year-end tax loss selling that is very common towards the end of the calendar year. The objective of tax loss selling is to try to claim losses on non-registered investments against realized capital gains so as to reduce capital gains taxation upon filing of the relevant individual tax returns for the applicable year. But what should you consider? Kenneth and Kim discuss the “30 day rule” known as the superficial loss rule, how to calculate adjusted cost bases, losses that are denied when a “personal-use property” loss is triggered and planning that might be available when transferring property to non-affiliated individuals. Happy listening!

  continue reading

35 episodes

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