I was the sole shareholder of a numbered company that invested in rental properties. The properties were sold at a loss and the company is dissolved.
How do I claim the loss of this investment in my personal income tax? What forms to use to report this loss?
thanksHow to claim a loss, arising from loss and dissolution of a numbered company, in my personal tax filing?
Losses in your dissolved numbered company cannot be claimed by you personally. Note that the company losses may be reduced by debts forgiven by the creditors or banks.
However, if you have invested in the numbered company as capital contribution (shares) or loans, you may claim the losses after the company became dissolved. You may claim such losses using the Investment Income or Loss schedule of your personal tax return.
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