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Discussion Starter · #1 ·
I'm deferring a large stock option benefit. This past year the company went bankrupt, and the corp is being wound up. I've received noticed that the shares have been canceled.

I'm confused as to whether I can continue deferring the stock option benefit. I still have the shares in my brokerage account (worth 0.00). I know that if I wanted to claim a capital loss, I would need to write to CRA and tell them explicitly that I am deeming the shares disposed. What about the case that I don't want to the dispose of the shares!

I've talked to CRA a bunch of times, and seem to get an even split between yes and no :confused:

I think the same thing is going to happen with Nortel stock eventually.
 

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Discussion Starter · #3 ·
Have nortel shares been canceled? I thought they were delisted, but not canceled.

Stock option benefit is considered income, and as such the massive capital loss that will be incurred when disposing for $0 can not be used to write off the stock option benefit (except in the year you die). So it would be best if I just deferred until I die. But the company went bust and shares canceled - does that mean that the shares are deemed disposed?


Thanks
 
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