GREY:CIMVF - Post by User
Comment by
Oilseekeron Jan 12, 2011 9:45pm
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Post# 17963378
RE: oilseeker
RE: oilseeker
Ellen
The way I do it is at the end of the year I put stock losses into my TFSA (the lowest trade of the day) and take the loss in my open account as a tax loss
I also put my max into my RRSP, which is taxable on the way out. That is why most of my trading is inside my tax free account. If you make a million dollars inside your RRSP you pay tax on it without the benifit of detuction off
you yearly taxes so any thing you make is lost because of the taxes you pay on the way out.
As with RRSP if you lose on a stock you loss room to invest, same with TFSA, but I can remove money and replace
the following year tax free
Hope this helps, but that is just the way I do things, my TRSA is up close to 200%
Year of teh Profit, Oilseker