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Shares losses realized
My company "A" had shares in a company "B" worth $10,000. The company "B" has dissolved, so now the shares are $0. Can I claim a $10,000 expense on my income statement under operating expenses for company "A"?
October 12, 2020
7:20 AM
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Troubleshooting
Hi, thank you for using Intuit TurboTax Community
It sounds like you have a capital loss or an allowable business investment loss which would be reported on schedule 6 of a T2. The T2 guide has a discussion in the capital gains section for capital and allowable business investment loss. These amounts are not usually directly expensed. Review the schedule 6 information in the T2 guide and call CRA if you have further questions related to your scenario
Hope this helps
October 13, 2020
7:28 AM