Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 15, 2023 4:06:17 PM

Can I claim losses on delisted stock (the value is $0)?

I bought the stocks in 2021, didn't sell them and now the company is inactive.

0 1 61
1 Replies
Level 4
Feb 19, 2023 5:44:30 PM

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. 

Thank you for choosing TurboTax.