What transaction do I use to record...
willi1
Member ✭✭✭
a Contribution in Kind from non registered account to TFSA
Windows Canadian Deluxe R28.15
Windows Canadian Deluxe R28.15
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Best Answer
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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.0
Answers
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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.0 -
Thank you. I hadn't realized that I could direct the 'cash' to somewhere other than the account in question when doing a transaction.
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