Post by
Roger87 on Oct 06, 2015 3:52pm
A Loss in a TFSA
Can someone message me in regards to a loss/capital loss in a TFSA account and the tax implications (if any)?
I thought if you realized a loss on a stock in your TFSA, it cannot be claimed during tax season. But I see some people here posting that they are shifting cxr stock to registered accounts. Why would they do this?
I guess I have some dumb questions, can someone help me with them?
Comment by
Dave4444 on Oct 06, 2015 3:59pm
Both gains, losses, dividends, interest, etc. in a TSFA have no tax impact. Gains and income are not taxable and losses are not deductible for tax purposes, simple as that. The big issue is if sell shares outside of a TSFA to get a tax loss and the rebuy the shares in a TSFA within 30 days, the loss is a superficial loss for tax purposes and will be denied.
Comment by
theanalysttech on Oct 06, 2015 5:21pm
You can tranfer equitie they want to take the capital loss and buyback later.