Superficial Loss

by Tax Guy - Burlington Accountant on February 1, 2010 Print This Post Print This Post

An actual loss realized that is disallowed when an identical property is acquired or reacquired person within 30 days before and 30 days after the disposition. The loss disallowed is a superficial loss and is usually added to the ACB of the reacquired property.

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Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

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