I know any discussion about taxes is inherently boring but I’m appealing to my Canadian readers to see if they can answer a question I have. I wondering if anyone has used a tax-free savings account and transferred common shares in that account. I know it’s possible but I’d like to know the exact process in getting that done.
Specifically, I’d like to transfer some of my EA stock into a TFSA. It’s my understanding that any money that comes from selling my shares is not taxable. I think. The thing that might complicate this is that EA stock is not Canadian. It’s traded on Nasdaq which is an American market. I don’t know what the rules are for foreign contributions to a TFSA. Also, I wonder if E*Trade, being an American company would even care if I wanted to transfer some of the shares over to a Canadian account. Can they even do that?
If anyone can answer even just a few of my questions, I’d appreciate it. I promise tomorrow I’ll find a way to bore you without resorting to financial talk.