Folks
I need some general directions as to what is the easiest way to show losses (or gains) while filing tax return.
I started trading with BMO Investorline in 2009 and was doing lot of TSX based transactions (basically around 20-40 per week, buying n selling same stocks). The loss at the end of year was lets say $10000 in open account and $7000 in RRSP.e
y hope was that at the time of tax filing I will get a summary from BMO telling me what amount to indicate on what line and thats it. But this seems like a nightmare. So how do I go about incorporating losses in personal tax return?
Also can someone please let me know if I need to even bother about RRSP account as such because I am not taking out money from it. SO I guess whatever I make or lose in that account does not matter and will be taxed during time of withdrawl? Correct?
Please advise.
I need some general directions as to what is the easiest way to show losses (or gains) while filing tax return.
I started trading with BMO Investorline in 2009 and was doing lot of TSX based transactions (basically around 20-40 per week, buying n selling same stocks). The loss at the end of year was lets say $10000 in open account and $7000 in RRSP.e
y hope was that at the time of tax filing I will get a summary from BMO telling me what amount to indicate on what line and thats it. But this seems like a nightmare. So how do I go about incorporating losses in personal tax return?
Also can someone please let me know if I need to even bother about RRSP account as such because I am not taking out money from it. SO I guess whatever I make or lose in that account does not matter and will be taxed during time of withdrawl? Correct?
Please advise.