I have a stock I purchased and the company went bankrupt and the stock got delisted Dec 2017. How can I claim my loss of approx. 10K

[castmealine]

I thought I seen a way of claiming other than capitol loss

[TurboTaxZaid · Accepted solution]

Hi @castmealine,

To claim this loss, even though you are not able to sell the shares, you must record a disposition of the stock for $0 and an immediate re-possession at $0 according to Section 50(1) of the income tax act. You must also mail the CRA a signed letter stating that you would like Section 50(1) of the Income Tax Act to apply to this transaction. 

More details can be found here: https://www.theglobeandmail.com/globe-investor/investor-education/my-shares-are-worthless-now-what/a...