Ah yes once in a while I come back here and see a fellow Canadian regard with loss porn in a TFSA

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duuuuuude why did you gamble all that in your TFSA… i would *PAY* $40,000 to just get that much extra in contribution room because at even just 10% CAGR over 20 years, that $40,000 is now worth $270,000 and if the choice is pay half in tax or pay $40,000 today so it’s tax free, i’m paying the $40,000 so losing $40,000 in TFSA contribution is way fucking worse than losing just $40,000 

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Bro did it in his TFSA as well, gg

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More than that he did it in his TFSA account lmaoo

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Not always. Tfsa stands for tax free savings account. If you buy a stock and hold it for 10 years (some ppl call this a trade) you dont pay any taxes

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Don't you always have to pay taxes on trades? Unless tfsa is like a Roth IRA tax free account. Am I missing something

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I didn't think you could even do calls or puts in the TFSA account

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There was a case where an investment advisor who was trading with his tfsa account was asked to pay taxes. But the decision was heavily weighted on the fact that he was an industry professional. It was not revealed what he was doing exactly. But even in that case he wasnt fined for tax evasion. He just paid taxes

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Yes, the CRA forbids “day trading” with your tfsa account, but gives no definition on what constitutes day trading. You are allowed to trade options in tfsa, but it is entirely up to the CRA to determine whether you are day trading. But its okay, worst case they will ask you to pay taxes (its not like you will have a criminal record or go to jail or anything)

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Wait there are situations where we have to pay capital gains in a tfsa?? Could you explain

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