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Transferring Stocks into a TFSA
February 13, 2012
8:44 am
John
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Let's say I have shares of company XYZ in a non-registered account at my broker.

I purchased XYZ for $10 per share in January, 2012.

In March 2012, XYZ has fallen to $5 per share.

If I transfer XYZ to my TFSA at the same broker, is this deemed by CRA to be a disposition and therefore I can claim a $5 per share capital loss for the 2012 tax year?

February 13, 2012
10:12 am
Dennis
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1. If you transfer to Registered account, you can't claim Capital Loss. So you need to sell it and buy it back, BUT
2. If you sell and buy the identical one less than before/after 31 days, you can't claim Capital Loss – Superficial Loss rule.

To claim Capital Loss:
1. Sell XYZ and buy similar but not identical one in TFSA, or
2. Sell XYZ and wait 31 days and buy it back.

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