In all cases, he will report a capital gain or loss when he sells (or otherwise disposes of) the stock.
That said, whether there is income to report now, and what the cost basis of the stock is (which will affect the eventual gain/loss), depends on how the stock was distributed. Did any amount representing the shares he received appear on any T-slip or other document provided by his employer?
In all cases, he will report a capital gain or loss when he sells (or otherwise disposes of) the stock.
That said, whether there is income to report now, and what the cost basis of the stock is (which will affect the eventual gain/loss), depends on how the stock was distributed. Did any amount representing the shares he received appear on any T-slip or other document provided by his employer?
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