skip to content
  1. Home
  2. >
  3. Investment Q&A
You can view 3 more answers this month. Sign up for a free trial for unlimited access.

Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Suppose I sell a U.S. stock for a capital gain in USD. This must be reported in Canadian $ on Schedule 3 of the income tax return. But in CDN $ at today's exchange rate, I have a (paper) loss. Shall I be claiming a capital loss, even though I won't literally be converting the dollars?
Read Answer Asked by chris on May 17, 2021
Q: If I have a significant carry forward loss but have a small cash position in my non-registered account [mainly fully invested], does it make sense for me to move funds from my TFSA into the non-registered account to try and make some capital gains to offset the loss? In either case I would not be taxed on any gains.

Thanks...
Read Answer Asked by Ronald on May 17, 2021
Q: Hi group re TSFA i have $36,000 room - i was going to sell some losers Like KXS and DOC so i can claim the loss - does the fact that the cash will go into TSFA make any difference with the 30 day repurchase rule? - or does it still apply - thanks
Read Answer Asked by Terence on May 08, 2021
Q: Understanding your not tax experts, do you or any members know if you can write off interest expense if you have a dedicated line of credit and invest inside a TFSA ?
Read Answer Asked by Charles on May 04, 2021
Q: Hi 5i,
I recently topped up Bam.a and want to crystallize a loss on one of Brookfield’s subsidiaries in a taxable account. Will the loss be disallowed by CRA if I do not wait 30 days from settlement of the recent BAM.a purchase?
Tia,
Read Answer Asked by Kat on May 03, 2021
Q: I am sure this question has been asked before. As a general rule of the thumb that stocks, and etfs should be held in various accounts.
Accounts:
CAD Cash
US Cash
RSP
TFSA

I think I know that US Dividend payers should be in RSP, Growth in TFSA, but do you have a high level how to best allocate various types of Stock assets for Cad, US, and International, along with sector allocation or divend?

Thanks.
Read Answer Asked by Colin on May 03, 2021
Q: Hi, friends!
I collected some money from BMO dividend and would like to invest in VOO ETF , but I am afraid of double taxation on capital gain and dividend, in Canada and USA!
Can you tell me when I have to pay taxes for USA and Canada and approximately how much?
I am retire with a small pension, 71 yr.
Thank you, very much
!

Read Answer Asked by Mark on May 03, 2021
Q: If i sell shares in a specific company, say RBC, at a loss and use the proceeds to buy a sector ETF that contains even a small portion of RBC within thirty days, are my losses still considered capital losses by the CRA

thanks

al
Read Answer Asked by alex on May 03, 2021
Q: If ones owns shares in company ‘x’ in their TFSA, and one wants to buy more shares but they have no more cash in their TFSA, what is left is buying more shares in a cash account. In the cash account, is the cost base determined only on the shares in the cash account, or are the shares inside the TFSA used in the cost base determination?
Thank you
Read Answer Asked by Leo on May 03, 2021
Q: In non-registered account we had huge gains in solid dividend payers (ENB, SLF,CNR,FTS) and last year against tax-loss selling was able to reduce weight in portfolio to approximately 4% each. Donated some shares to charities and also gifted some to son (still had to pay capital gains but didn't hurt as much because benefit is still in the family). New money has been going to growth securities and thanks to your advise in time we may have huge capital gains again. Are there other strategies for dealing with this happy problem?
Read Answer Asked by J on April 26, 2021
Q: Ric asked a question about selling a stock, for a loss, that he had only just purchased 15 days earlier. Jamie Golembek had a very interesting article in the FP this past weekend, where he states that it is not necessarily straightforward, particularly if you only sell part of the holding, and not 100% of it, when that that holding was only just purchased within the prior 30 days before its ultimate sale. Certainly worth the read, because the CRA has a formula that they apparently follow.

Please see the link: https://financialpost.com/personal-finance/taxes/investors-should-beware-this-quirk-in-the-superficial-loss-rule-when-filing-their-taxes
Read Answer Asked by Warren on April 21, 2021
Q: I bought a stock and sold it 15 days later at a lower price. Can I take a capital loss on this?
Read Answer Asked by Ric on April 20, 2021
Q: Hi 5i
First time, Itrade has issued me a T5008 slip reporting around 30 ITEMS I bought/sold
indicating amounts for box-20 (book Value) and box-21 (Proceeds) .
I’ going to make up some numbers here for this example: Totals for
BOX20 = 500K , BOX21 = 650K , Gain = 150K .
I CASHED 90K, the other 60K was reinvested in the same
account. I should be taxed only in 90K?
I should only declare in my TAX return 90K ? correct?

Thanks
Read Answer Asked by Fernando on April 19, 2021
Q: hi there - recognising you are not tax experts i will ask anyways so if members can point me in the right direction. I received a 1099 form from CIBC but it doesn't specifiy which securities it covers. I am trying to confirm if these dividends are also covered on the T3 or is this separate?
Read Answer Asked by kelly on April 13, 2021
Looking for more? Sign up for a FREE 14 day trial! No credit card required

We invite you to sign up for a 14 day free trial of 5i Research!
Experience all the benefits and tools we have to offer; stock research, model portfolios, Q&A with our experts, and so much more. Join a community of like-minded investors today!