2

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?

1
  • 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

0

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.