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Investment transfer from Non-registered to TFSA - how is contribution room affected? [Answered]

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  • Feb 20th, 2020 7:01 pm
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Dec 26, 2009
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Investment transfer from Non-registered to TFSA - how is contribution room affected? [Answered]

I buy ETFs in my TFSA trading account each month, but this month I accidentally bought through my Margin account last month. I just noticed last week that I'd bought within the wrong account.

Since I've got some unused TFSA room and want to allow my semi-automated tracker to continue working properly, I transferred the 'mistake' buys from my Margin to TFSA account. This transfer took place on February 21st.

When Questrade transferred the funds, the notes only mention book value. When it comes time to report to CRA, does anyone know what contribution Questrade will report to CRA? Will it be the opening, average, or closing price on Feb 21?

Prior to initiating the transfer, I asked Questrade chat, and was told that I can select which value is used... I never got the option so am trying to figure out how Questrade reports.

EDIT - I got through to Questrade. They report contribution based on the price of the last trade the day that you initiated the request.

I figured I'd leave this post here in case anyone else had the same question.
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