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What transaction do I use to record...

 a Contribution in Kind from non registered account to TFSA

Windows Canadian Deluxe R28.15


Best Answer

  • gs_
    gs_ Member ✭✭✭
    Accepted Answer
    I am making the assumption you are transferring "n" shares of a stock from a non-registered account to a TFSA account.

    I would "sell" "n" shares from my brokerage account at whatever market price your broker assigned to the transfer. That will get the ACB right. The "cash" goes to the brokerage account or to the TFSA account, your choice. Then I would "buy" "n" shares in the TFSA account using the cash from whichever account you settled the "sell" in.

Answers

  • gs_
    gs_ Member ✭✭✭
    Accepted Answer
    I am making the assumption you are transferring "n" shares of a stock from a non-registered account to a TFSA account.

    I would "sell" "n" shares from my brokerage account at whatever market price your broker assigned to the transfer. That will get the ACB right. The "cash" goes to the brokerage account or to the TFSA account, your choice. Then I would "buy" "n" shares in the TFSA account using the cash from whichever account you settled the "sell" in.
  • willi1
    willi1 Member ✭✭✭
    Thank you.  I hadn't realized that I could direct the 'cash' to somewhere other than the account in question when doing a transaction.  

This discussion has been closed.