RE:RE:RE:RE:Edgewater + TFSAFYI...when you transfer to TFSA, you pay tax on the capital gain if you have one, but if you have a capital loss, you dont get to keep it to apply towards capital gains.
Newbie1 wrote: I'm going to wind up paying capital gains on some of my Edegwater shares this year since I made money before I initiated the transfer to my TFSA. My average share price was around $0.20 after all my purchases.
That being said, the transfer did go through at $0.25 instead of the $0.325 it closed at so I'm happy. For anyone who is wondering, there are more stocks than Edgewater in my TFSA.
To anyone who is reading, please do not take this post as financial advice as it is not intended to be.
Pandora wrote:
Newbie, you did not discuss the tax implications of your "transfer in kind".
You transferred at 25 cents according to your note. You do say say what your ACB was and if there was a "deemed" capital gain or a loss.
Would you care to present that as well? Just so people don't go willy nilly trying to transfer stuff over without realizing the consequences -- although for those using a broker presumably they will be made aware.