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Should you sell stocks to simplify with an all-in-one ETF?
– moneysense.ca
I have a mixed bag of stocks in my TFSA, RRSP, corporate trading account, and in my non-registered accounts.
I am in my mid-50s and looking to simplify my portfolio. I would like to sell all positions within each account and deploy a 2 to 3 ETF portfolio. Am I able to sell off everything to purchase VEQT and a bond ETF, or will I be penalized (taxed) on the approximately $1 million in stocks?
–Brad
Some investors buy only stocks, others buy only exchange-traded funds (ETFs), and yet others use a combination of the two. Both can be a viable way to build a portfolio. Let’s look at each one, starting with stocks—specifically, the tax implications of selling stocks in tax-preferred versus non-taxable accounts.
Selling stocks in tax-preferred accounts
When you sell stocks in a tax-free savings account (TFSA), there are no tax implications, Brad. There is no tax to sell a stock for a profit, nor tax savings to sell a stock for a loss.
There is no tax to withdraw from a TFSA, either…
