Alina is planning on withdrawing the down payment from her Tax-Free Savings Account (TFSA) for the condo

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Alina is planning on withdrawing the down payment from her Tax-Free Savings Account (TFSA) for the condo that she is looking to purchase. Alina has contributed the maximum to her TFSA since turning 18 with contributions totaling $38,500. The market value of her TFSA is now at $75,230 as she has done well with her investments. Alina will be withdrawing $50,000 on July 1, 2020 from her TFSA for the down payment

What is the maximum amount that Alina can re-contribute to her TFSA on January 1, 2021 (first day of the following year) without triggering penalties? (see Table C):

Posted Date: May 19, 2024 07:01 PM

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Alina is planning on withdrawing the down payment from her Tax-Free Savings Account (TFSA) for the condo

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