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M
muska13
March 14, 2023
Question

Do I need to report stocks that were gifted to me by a spouse? ( T5008)

  • March 14, 2023
  • 2 replies
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    2 replies

    C
    champ_a_adc
    March 16, 2023

    You don't need to report. You will report just when you sell the stock or a part of it.
    Keep your T5008s though, as you will need them to calculate your cost base when you
    sell.

     

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    J
    Jurisa1
    March 17, 2023
    No. The Canada Revenue Agency (CRA) does not tax gifts. Gifts, along with lottery winnings, most inheritances, and life insurance payments, fall firmly on the list of items that are not taxed. However, as a giver, you may face some tax obligations.

     

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