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Sale of stock in a Canadian entity

  • 1.  Sale of stock in a Canadian entity

    Bronze Most Valuable Member
    Posted 03-30-2022 11:31 AM
    I have a client (trust) who sold an investment in a Canadian based company. The client uses a transfer agent in the US.  The client received a 1099 to report the transaction on their US trust return.  Additionally they received from Canada department of revenue form T5008 reporting the details of the transaction including the proceeds of the sale. Is anyone familiar with the reporting  requirements to Canada and if a Canadian tax return is required a Canadian accounting firm to prepare the return(s) required.  
    I can be contacted via phone as well (516) 902-6347.  thank you

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    Mark Dolinger CPA
    MSD CPA, PC
    Plainview NY 11803
    516-783-1223
    msdcpa@outlook.com
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