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N
noman-cpa-gmail-
February 28, 2022
Question

T5008 tfsa slip

  • February 28, 2022
  • 1 reply
  • 0 views
do I report gains in TFSA

    1 reply

    T
    Tom_Cheng
    March 1, 2022

    If your shares or funds were held in a registered account such as a Registered Retirement Savings Plan or Tax Free Savings Plan, you do not report them on the tax return as you would ordinary dispositions or sells. 

     

    Your investments grow tax-free inside of the account. Since you contribute with after-tax dollars, you do not have to pay income tax when you eventually withdraw your money.

     

    For more information, please click  Paying Taxes on Investments

     

    Thank you for choosing TurboTax.

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