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New Member
posted Feb 20, 2021 12:55:38 PM

What is percent owned by me, year of acquisition and adjusted cost base?

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Level 3
Nov 25, 2022 1:14:10 PM

"Percent owned by me", is just asking if you share the property with anyone else. So, for example, if the asset is yours and only yours, then the percentage you would put would be 100%.

 

"Year of acquisition", is asking in what year did you gain ownership of the property, whether in way of a donation or bought with another asset or cash.

 

As per CRA (Canada Revenue Agency),

Adjusted cost base (ACB) is usually the cost of a property plus any expenses to acquire it, such as commissions and legal fees.

For the full information on ACB, view the link below:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/calculating-reporting-your-capital-gains-losses/adjusted-cost-base.html

 

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