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Eclectic12

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  1. I did this by going to the interview section, scrolling down to "Donations/political contributions". Underneath was "Canadian Charity". Clicking on this set the upper right window to the list I have previously entered. Cheers
  2. I'm not sure what the confusion is. If you over-contribute money or stock to the TFSA then the default penalty is 1% of the over amount per month. Withdrawing the excess or having new TFSA contribution granted from the annual amount and/or previous year withdrawals will help fix it. Assuming your figure of $80K of TFSA contribution room is correct and you are talking about contributing cash, all you have to do is make sure the TFSA contribution is $80K or less. Make sure you are aware of the TFSA contribution rules plus make sure to track the available TFSA contribution room in real time. I do this in a spreadsheet where in Jan, I add the annual amount plus the previous year's withdrawals to my running total. As I make contributions, I subtract them. If you have an account with CRA, you can check their annual numbers. Be aware that CRA does not find out about the activity in however many TFSA accounts you have until the FI sends them the data. I have noticed that some are quick to send the data the first week of Jan the following year while others send at the deadline (IIRC end of Feb the following year). So this late in 2022, all CRA will have is the up to end of 2021 data and what contribution room was granted in 2022. Any 2022 contributions or withdrawals won't be sent until 2023. Keeping your own real time numbers is much better IMO. Cheers PS Be aware that if you buy US stock that pays dividends, the US will take their withholding tax from the dividends. This is not a Canadian tax but an American one.
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