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Greetings everyone,

This year I have a rather non-typical situation with my taxes and would realy appreciate if someone could provide any advice on the proper way of calculating taxes on AIG.WS dividend stock distribution.

Here’s my situation:

I have a non-registered margin account with Questrade

In this account I held some US shares of AIG that on Jan 25, 2011 yielded 66 rather-strange warrant dividend shares of AIG.WS stock in my account. (http://www.savingadvice.com/forums/investing-banking/57508-what-aig-ws.html)

At the time when these shares were deposited to my account the price of the original stock dropped for the equal amount and then after that the price for both shocks continued to be subject of market forces.

After that I sold both stocks in June at a loss. In particular, AIG.WS was sold for $8.96 per share for the total mount $586.39 US

This week I received my T5 slip from Questrade where this particular distribution of dividend stock was reported in Box 15 – Foreign income in the mount $1075.14

Now, here are my puzzles:

#1
I’m trying to figure out my capital gains/losses for both, AIG and AIG.WS. I’m confused and not sure how this $1074.14 amount reported in Box 15 – Foreign income of my T5 is going to impact my tax return. I obviously don’t want to pay extra taxes on $1074.14 which I have not physically received in cash but instead I received dividend shares AIG.WS which I sold later at a loss.

#2
Can I claim capital losses in the amount $1074.14 - $586.39 = $487.75 for AIG.WS dividend shares?

#3
Will this distribution of AIG.WS stock dividend have any effect on how I should calculate my capital gains/losses for AIG stock?



I would appreciate any feedback or help! Thank you!
 
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