How to file your taxes when you own ETFs Dec 19th

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How to file your taxes when you own ETFsAsk MoneySense
Is it possible to handle investments without having an accountant or tax professional? I do my own income taxes and have used the tax receipts without any issues from my bank for mutual funds. Is it possible to invest in ETFs without hiring a professional at tax time? If they are in a TFSA, do I need to worry about calculating ACB?—Barbara

Tax implications of holding ETFs in a TFSA

When filing your taxes, Barbara, there are similarities between mutual funds and exchange-traded funds (ETFs). But there are also some distinct differences.

Both types of investments are subject to tax in your taxable accounts, like non-registered or corporate accounts. Tax-free savings accounts (TFSAs) are tax-free, so you don’t receive tax slips for TFSA investments, nor do you report the income or capital gains on your tax return.

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