What is the TFSA contribution limit for 2020?

myexperts_iamtes · ‎March 31, 2021

Kyle_12

According to the Canada Revenue Agency (CRA), the annual TFSA dollar limit for the year 2020 is $6,000. The maximum amount that you can contribute to your TFSA is limited by your TFSA contribution room. Your TFSA contribution room is the total of all of the following:

the TFSA dollar limit of the current year
any unused TFSA contribution room from previous years
any withdrawals made from the TFSA in the previous year

For more information on contributions, see the link below:

CRA - Contributions

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Kyle_12

According to the Canada Revenue Agency (CRA), the annual TFSA dollar limit for the year 2020 is $6,000. The maximum amount that you can contribute to your TFSA is limited by your TFSA contribution room. Your TFSA contribution room is the total of all of the following:

the TFSA dollar limit of the current year
any unused TFSA contribution room from previous years
any withdrawals made from the TFSA in the previous year

For more information on contributions, see the link below:

CRA - Contributions

View solution in original post

Turbotax Lein

The annual TFSA dollar limit for the years 2019 and 2020 is $6,000.

For more information, you can go to this link:

https://turbotax.intuit.ca/tips/tax-free-savings-accounts-tfsas-in-canada-6279#:~:text=2015%20was%20....

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What is the TFSA contribution limit for 2020?