RE:RE:RE:RE:Volume?Shares held in a TFSA
OK, in addition to consulting Dr. Google, I reached out to a friend who is a tax lawyer.
There are some times, depending on what you are holding and what happened to
cause the loss whereby you might be able to claim a tax loss. But a tax loss only helps you
when you have some profit somewhere that you could mitigate taxes on that by claiming a loss
on the devalued shares or perhaps now non existent shares. He then lost me in legal stuff
which gave me a tremendous start to a headache.
But in general, common shares held in a TFSA will not allow you to claim a tax loss.
But capital gains, no matter how big they might be, are exempt from taxes.
Fair enough. Can't have it both ways I'm afraid.
So, it is a judgment call by the investor. Some hold half in a TFSA and the other half
in a non registered account. Seems like a hassle to me as any tax loss benefit would
not be huge, unless you had quite a pile. And contribution room to a TFSA is limited
so that is not likely unless like me, you had a lot of unused room in your TFSA.
So there you have it. Me? I'll continue holding in my TFSA as I expect my DM shares to
increase exponentially. I like to roll the dice..