Canada Google Stock Split and Affect on Personal Tax Return

[Jason Chung]

Google split this year and half of their stock appears in my T5 statement as a full out dividend. Say for example I owned 20 shares, the stock split and 10 shares (let's assume each share is $500) are classified as a dividend so it appears on my T5 statement as $5,000. If I put $5,000 as a dividend in my personal tax software (I'm using TurboTax)... I get taxed a lot. This doesn't make much sense to me because when I sell the actual dividend stock, I'll get taxed again. I still own 20 shares, it's just that 10 is GOOG and 10 is GOOGL (different class shares). Help?

 

[Martin]

I have been searching for this. I am in similar situation. If I find anything I will post here. Would appreciate you doing the same.

 

[Jason Chung]

Will do. I haven't found anything yet though.

 

[Martin]

Found this post from last year. Not sure if there is another way.

May 5 2014
Just checked our TD Waterhouse April statement. The split is showing up on April 8:
20 GOOGLE INC CL-A GOOGL BV= $18,281.74 PRICE= 534.880U MV= $11,719.22
20 GOOGLE INC CL-C GOOG BV=0.01 PRICE= 526.660U MV= $11,539.12
So as noted above, the purchase cost is staying with the CL-A share and the CL-C have a $0 cost base. We bought these last June.

 

[Jason Chung]

So if I am understanding this correctly...

That means we will take a capital loss with a $0.01 purchasing price for the 20 shares when we sell it?
And we include the CL-C shares as a dividend in 2014?