GREY:CRIUF - Post by User
Comment by
predawnon Aug 26, 2018 10:43pm
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Post# 28520267
RE:OK now
RE:OK now Most all of us know all that and irrelevent to what I asked;;The question was(in case u missed it) was if anyone knew of any way to get around the 30 day rule ;; point being If I sell a stock in a Investment account at a loss I have to wait 30 days before buying again in either my IA or My TFSA in order to be allowed a capitol loss;;
rico91 wrote: There are 2 types of investment accounts, registered and non-registered.
Registered accounts are TFSA's , RSP or LIF.
Non registered accounts are referred to as cash accounts.
Trading within a non registered account results in either a capital gain or a capital loss.
Capital gains are added on to your income. They receive preferencial tax treatment ( 50% of the gain is taxed , I think ). If you have a capital loss you can deduct the loss from your gain to the same extent.
This tax treatment only applies to non registered accounts.The 30 day rule for buying back a stock only applies if you incurred a loss and want to claim a tax loss.
If you sell for a gain, you can buy the stock back again anytime in your non registered account.
If you want to buy back a stock that you sold for a loss in a non registered account, you can buy it back without waiting by buying it in a registered account where losses or gains make no difference.
Hope this helps!
Rico