Hello!
I work remotely for a US company. As part of the benefits, I am awarded a chunk of stocks of that company, those stocks are publicly available for trading. We use Charles Schwab as the broker.
Every 3 months some of those stocks "vest" and a part of those vesting stocks are sold to pay for taxes in the US, therefore I am already paying taxes in the US.
After that, I am able to sell those stocks for cash and send the cash over to my bank account in Canada
Charles Schwab sent me a end-of-the-year report, and it turns out there's some losses in there, since the stock price fell between when it was granted for me and when I sold it.
But I didn't loose any money since I got the stocks as part of my compensation
My question is: do I need to declare this cash that I'm transferring over to my Canadian bank account as part of my taxes this year? Since I already paid taxes in the US for those.
Or, in other words, do I need to use the Charles Schwab end-of-year report? Since it just lists my transactions
Also, the amount I got in the form of stocks is already described in box 38 of my T4
This is my first time doing my own taxes, and another question that I have is: will the simplest version of turbo tax work for what I'm trying to do here?
Thanks!
