Shares losses realized

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Returning Member

Shares losses realized

My company "A" had shares in a company "B" worth $10,000.  The company "B" has dissolved, so now the shares are $0.  Can I claim a $10,000 expense on my income statement under operating expenses for company "A"?

2 Replies
Level 6

Shares losses realized

Hi, thank you for using Intuit TurboTax Community

It sounds like you have a capital loss or an allowable business investment loss which would be reported on schedule 6 of a T2.  The T2 guide has a discussion in the capital gains section for capital and allowable business investment loss. These amounts are not usually directly expensed. Review the schedule 6 information in the T2 guide and call CRA if you have further questions related to your scenario

Hope this helps

Returning Member

Shares losses realized

Thank you!