Quote:
Originally Posted by DuffMan
If you have stocks in a company that went bankrupt, can you use that as a capital loss?
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Quote:
Originally Posted by Slava
Yes, unless its within an registered plan or TFSA (in other words if you would've had to pay tax on gains received). You have to be able to document the loss. (Bear in mind that I'm not an accountant)
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Pretty much bang on. Yes you can use bankrupt shares as a capital loss, BUT the company has to be gone. They cant be still listed and trading their shares for like $0.0000001 Cents or some crap like that and you should have it documented, but its usually pretty obvious.
My bill is in the mail... 
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