Calculation of cost base for capital assets.

gk001
gk001 Member

For Canadian tax purposes, the adjusted cost base of a capital asset is calculated on an average cost basis, not FIFO or LIFO.

Quicken for Mac should provide an option to use the average cost basis for calculating the cost base of an asset.

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Comments

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭

    I will point out that for some mutual funds such securities it is also common to use the average cost basis, so even the US side needs this too.

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