ChristopherB22
New Member

How do I calculate the Adjusted Cost Basis of a foreign insurance policy?

The policy is issued in Singapore and I am now living in Canada.
‎April 10, 2024 3:20 PM
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TurboTaxSusan
Moderator
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Investors and rental owners

You would need to calculate the Adjusted Cost Basis (ACB) using the method that the CRA has outlined, which you can read about here: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/section-148.html

 

‎April 10, 2024 5:50 PM
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