Hi there,
I have opened up a TFSA account at TD, and plan to transfer some stocks from my TD brokerage account into the TFSA account.
Is it more advantageous for me to transfer a stock which has lost value since I purchased it (down about 50%) into this TFSA account, or a stock which has gained value since purchase?
I believe I read somewhere that when you transfer into the TFSA it is treated "as if" it were sold, however you aren't able to declare a capital loss on it? Is that correct?
Thanks in advance for your input.
BethO
I have opened up a TFSA account at TD, and plan to transfer some stocks from my TD brokerage account into the TFSA account.
Is it more advantageous for me to transfer a stock which has lost value since I purchased it (down about 50%) into this TFSA account, or a stock which has gained value since purchase?
I believe I read somewhere that when you transfer into the TFSA it is treated "as if" it were sold, however you aren't able to declare a capital loss on it? Is that correct?
Thanks in advance for your input.
BethO