I am currently working in the US but maintain my residency in Canada and file with both the IRS and CRA. I have accounts with both Questrade in Canada and Robinhood in the US.

I wish to transfer my holdings in Robinhood to my TFSA account at Questtrade. I am not sure about the particulars, but have two major questions

  1. The contribution room for my TFSA is stated in CAD. If I transfer USD to the TFSA, how does that affect my contribution? Is it converted at the market rate?

  2. When transferring automatically, i.e. using Questtrade to initiate the transfer, will I have to pay capital gains on my holdings at Robinhood?

  • I believe you will pay withholding tax. Talk to Questrade support, they've been really helpful when I did that a while ago
    – mustaccio
    Sep 10, 2020 at 15:53


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