Quote:
Originally Posted by Weitz
Was reviewing my accounts today and realized I had over contributed to my TFSA in mid December by $3000. I have read up on penalties and having to withdraw the excess and what not.
Now that I have TFSA room of $4000 (due to the new year and over contribution) do I still need to withdraw the overage? It was in the account for about 14 days in 2025.
Anyone have an idea?
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you don't have to withdraw it since you got the new room for the calendar year. You will have the pay the penalty for December though since you were over for the month. Just don't contribute more than your new room minus the over contribution and you'll be fine.