The U.S. tax code allows stock losses to offset gains with no limit. On the other hand, there is very limited standalone benefit to taking a loss if there are insufficient capital gains to offset it - I think something like $3K per year in excess of any gains.

How does the Canadian system work? I'm asking because the major motivation going forward to sell will be tax losses for US taxpayers since selling will net a small fraction of most people's cost basis, which might be in the 30 - 40 cent area I'd guess. It just doesn't make sense to me to sell a stock for 1/3 what I paid for it unless it had a big tax benefit, especially if there is residual value, i.e., reserves.

I'm trying to get a handle on what nonemotional selling might occur going into year end.