How do we add TFSA

 

Getting started

Deposits & withdrawals from a TFSA don’t need to be reported on your tax return.

More information on the TFSA: https://turbotax.community.intuit.ca/replies/2647782


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brianceh
New Member

Getting started

HI, where do we add TFSA contributions on our Tax Return? Which line, ?

Getting started

You do not include the TFSA since it is not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn.

 

For more information, please see the links below:

TurboTax article Tax-Free Savings Accounts (TFSAs) in Canada 

Canada Revenue Agency: Tax-Free Savings Account (TFSA), Guide for Individuals 

 

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