Quote:
Originally Posted by curves2000
I am hoping a few of you CP cat's might be able to provide some guidance, advice, alternative thinking or just reassurance on a potential strategy.
I have been a long time Blackberry shareholder, 10 years now. I have an average cost of approx $11 and I hold it in both cash and TFSA accounts.
I have approx $40k in room in my TFSA from a withdrawal I had done a few years ago and never replaced.
I am thinking about doing an in kind contribution of approx $40k into the TFSA of BB shares. I would be booking some capital gains in the cash account and than have it tax sheltered in the TFSA in the event this insanity continues.
I have some trailing stops in place and I am following closely. I guess I am just looking at minimizing taxes, maximizing upside potential while limiting potential losses.
Am I missing anything? Anything anybody would do different? Anything other than capital gains taxes I should worry about? Any stop loss techniques or other trading strategies?
Normally I am not this much of a clown but this last few days has been wild.
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Only thing I will caution you on is moving a bunch of BB shares over at X price to your TFSA, and then having BB crash at X-80% price will result in the inability for you to have tax losses in addition to chewing up a bunch of your TFSA room. (ie. you transferred at $40K but now its only worth $10K). The difference between Adjusted Cost Base and the transfer price will also hit capital gains before it gets transferred as a deemed disposition.