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For a TFSA holding mutual funds, are year-end distributions (capital gains/losses) applied and taxed like mutual fund investment accounts?



Our response:

You will not be issued tax slips for mutual funds held inside a Tax-Free Savings Account (TFSA) like you are for mutual funds held in non-registered accounts, as all gains – whether interest, capital gains or dividends – are not taxable, even after they are withdrawn. Keep in mind capital losses within a TFSA cannot be used to offset capital gains outside of a TFSA.

Speak to your registered financial advisor or tax professionals to learn how taxes apply to your portfolio and registered savings accounts.

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