TFSA WITHDRAWALS

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I know you can wd at your liberty from your tfsa but are restricted when you can top up again. My question if you are withdrawing just the earnings you have made ie dividend income, if you deposit that income back does that count as a deposit toward your tfsa cap

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Asked on February 11, 2024 11:36 am
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So, the TFSA formula is simply this:
Previous Room + This years new room + previous year withdrawals

So lets say you have no previous room and have maxed out this years room. You decide to pull out dividend income, lets say $2000. You cannot contribute it back this year. Next year, however, the formula would look like this:
Previous room + this years new room + $2000.

Does that make sense?

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Posted by Dan Kent
Answered on February 11, 2024 12:08 pm
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thx Dan
(scott ingleby at February 12, 2024 9:52 am)
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