Reader Question: I acquired stocks of Nortel from the spin-off of Nortel from BCE and still hold them. Do the Nortel stocks have to be held until BCE shares are sold or can they be offset against other capital losses using the value at the time of the split?
The ACB was split when the spin-off occurred. You can sell either shares and their gains and losses are independent. At the end of the year, your cumulative losses are netted against cumulative gains.