Real Estate

how to calculate Capital Gain when giving out 2/3 of the shares of a property?

  • Last Updated:
  • Aug 25th, 2018 7:52 am
[OP]
Sr. Member
Mar 13, 2012
965 posts
772 upvotes
Surrey

how to calculate Capital Gain when giving out 2/3 of the shares of a property?

how to calculate Capital Gain when giving out 2/3 of the shares of a property?

let say, 2 years back it was 800k , and now the fair market value at the time of the transfer is 1million, and gave out 2/3 and I still own 1/3 , how much of the capital gain or lost I could claim?

thanks in advance
2 replies
Deal Fanatic
Jul 3, 2011
5381 posts
2449 upvotes
Thornhill
You didn't say how long you owned the property before distribution. Assuming this was never your principal residence...

If you owned it 100% for any length of time before distribution it seems to me a fair calculation is:
1) value at distribution less your adjusted cost base = your capital gain at that time
2) one-third of the current value after deducting the value at distribution = your capital gain since distribution
Deal Addict
Jul 4, 2004
4944 posts
1027 upvotes
Ottawa
I think you need to check with an accountant or CRA.

As mentioned, you need to pride me information. What do you mean by "gave out"? My gut feeling is that you were in the hook for the full capital gains value when you gave out and now all owners share casual gains in further increases ...

Top