Q: Peter and Co, I have enjoyed the tax benefit of donating stocks to registered charities, thus avoiding the capital gains tax. Often I will repurchase the stock after it has been sold by the charity or its agent. If I donate a stock from my cash account and immediately purchase in m y TFSA, am I correct in assuming that the adjusted cost base of the donated stock or the portion of the stock remaining in the cash account is not impacted? This question has been posed to me so I am looking for some assurance.
With appreciation,
Ed
With appreciation,
Ed