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| *The Commerce Journal>>>Canada Taxes |
Cash from fractional share distribution VS ACB? |
When you receive shares from a stock distribution the ACB is not changed, but what about when you receive cash due to fractional shares? Technically the cash in lieu of fractional shares is a disposition of the fractional shares, and the cash received is the proceeds. However the amount is usually very small so if you treat it as a return of capital that should be ok (i have done this in the past myself.) Alternatively you could figure out the ACB of the fractional shares and actually record the disposition and associated capital gain or loss. |
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