investor clinic

I have an unrealized loss of more than $15,000 on 500 BCE Inc. shares I bought several years ago for about $65 each. I want to sell them to claim the loss for tax purposes and then buy them back because I think the company is in a better financial position after cutting its dividend, and I believe the stock has hit bottom. Is this a good idea?

Selling losers to claim a capital loss is a popular tax strategy at this time of year. Given the more than 40-per-cent plunge in BCE’s BCE-T share price over the past three years, I’m pretty sure you’re not the only investor looking to salvage something positive from the stock’s collapse.

But before you pull the trigger, there are several things to keep in mind.

First, in order to claim the loss for tax purposes, you’ll need to

See Full Page