Mark turned 18 on March 8th 2023 and opened a TFSA and contributed $6500 in a highly speculative stock. On May 6th, he realized the stock price had gone down significantly and his original contribution of $6500 was now worth $2000. Mark withdrew the $2000 and is wondering what will happen to his TFSA room. Assuming the 2024 TFSA contribution limit is $6500, how much can Mark contribute next year?

Answer rating: 100% (QA)

The detailed answer for the above question is provided be... View the full answer