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    rosalia53
    New Member

    Can the TFSA contributions be deducted on the income tax return

     
    posted
    ‎October 30, 2019 5:11 AM
    last updated ‎October 30, 2019 5:11 AM
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    Accepted Solutions
    TurboTaxJudyToo
    New Member
    New Member

    Can the TFSA contributions be deducted on the income tax return

    No. TFSA accounts are not like RRSPs.

    Also, for TFSA accounts, gains and losses are not taxable nor deductible.

    For more info: https://turbotax.community.intuit.ca/replies/2647782

    View solution in original post

    ‎October 30, 2019 5:11 AM
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    1 Reply
    TurboTaxJudyToo
    New Member
    New Member

    Can the TFSA contributions be deducted on the income tax return

    No. TFSA accounts are not like RRSPs.

    Also, for TFSA accounts, gains and losses are not taxable nor deductible.

    For more info: https://turbotax.community.intuit.ca/replies/2647782

    ‎October 30, 2019 5:11 AM
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    1,066
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