Solved: If you hold investments in a TFSA, there is no tax...

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New Member

It's asking if I had any income from investments. I have a TFSA account and have purchased index funds, but I haven't sold any. How do I answer?

 
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Moderator

It's asking if I had any income from investments. I have a TFSA account and have purchased index funds, but I haven't sold any. How do I answer?

If you hold investments in a TFSA, there is no tax reporting done by you. CRA does have on record any contributions and withdrawals you do make to your TFSA, these can be viewed in your CRA My Account.

Your index funds do not get reported on your tax return until you actually make a sale. So you can answer "No" to this question if you have no other investments.

View solution in original post

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Moderator

It's asking if I had any income from investments. I have a TFSA account and have purchased index funds, but I haven't sold any. How do I answer?

If you hold investments in a TFSA, there is no tax reporting done by you. CRA does have on record any contributions and withdrawals you do make to your TFSA, these can be viewed in your CRA My Account.

Your index funds do not get reported on your tax return until you actually make a sale. So you can answer "No" to this question if you have no other investments.

View solution in original post

Highlighted
New Member

It's asking if I had any income from investments. I have a TFSA account and have purchased index funds, but I haven't sold any. How do I answer?

Much appreciated thank you
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