Putting shares in a private company into a TFSA?
I have a bunch of options in the company I work for, which is currently privately held. Let's say the options have a strike price of 50 cents apiece and I have 100 (note - made up numbers!). Is it possible for me to excersize these options now, and place the private shares in a TFSA?
If so, what amount is used to calculate the contribution amount? Is it the price I spend (50 cents * 100 = $50) ? Or is it the FMV of the shares (currently I think it is said to be $1 / share)? If it is the FMV what documentation would I need to back that up?
How does one go about doing this anyway, with shares in a private company?
If so, what amount is used to calculate the contribution amount? Is it the price I spend (50 cents * 100 = $50) ? Or is it the FMV of the shares (currently I think it is said to be $1 / share)? If it is the FMV what documentation would I need to back that up?
How does one go about doing this anyway, with shares in a private company?
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