DRIPs in non-reg accounts?

5941 Views 6 Replies 6 Participants Last post by Eclectic12, May 22, 2014

Kaitlyn

Discussion Starter · May 21, 2014

I've got a few stocks in my TFSA/RRSP which drip enough to buy ONE more unit, while I own more stocks and more shares of them that DRIP to be able to buy multiple shares for multiple securities.

The "problem" is, doesn't DRIP'ing these in my non-reg account create a tax nightmare? Say, buying 1 unit every month or a few units every quarter?

Somewhat related, I'm with TD Waterhouse - can I choose to DRIP certain stocks and not others?

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Cal

· #2 · May 21, 2014

Yes, you can choose to drip certain stocks and not others, just contact TDW with your instructions.

The only 'problem' is when there is ROC, or return of capital from the holding. Otherwise it is fairly straightforward, no tax nightmares.

Those holdings that have ROC are best for your TFSA (no taxes to calculate), which is exactly why I hold REI.UN in my TFSA.

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