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SanMatJT
New Member

Selling shares from the Global Share Ownership Plan and how to account for it?

Consider me clueless. I used to work for a company that had a Global Share Ownership Plan. I left the company and withdrew it. Fast forward to this year and I received a T5008 that has the book value and the proceeds of disposition. However, I'm not sure if I need to know anything else. I understand TurboTax figures out Capital Gains but I don't have any other documentation to show how much my shares were worth before I withdrew and how much money I actually received. I feel like I paid a substantial amount in fees (e.g. broker fees) to withdraw. Is this what is considered to be 'outlays and expenses'?  I've written back to my old company to see if they can tell me more. 

Am I totally out to left field? 

1 Reply
Jeffuuright
Employee Tax Expert

Selling shares from the Global Share Ownership Plan and how to account for it?

When you or your TurboTax are determining a capital gain based on a T-5008 slip you received after having sold shares acquired from a stock purchase plan, you need:

  • The adjusted cost base of the shares, which is the fair market value of the shares when you acquired them under the purchase plan (not what you paid for them under the purchase plan)
  • Outlays and expenses, of which brokerage fees are one type
  • Proceeds of disposition