Hi, I have recently returned to Canada after 3 years living in the US. Before I left, I sold my TFSA at the recommendation of my accountant at the time to simplify tax implications. Now that I am back, I would like to contribute again. I am over 35 and a Canadian citizen. The question I have is what is my contribution room?
- Can I contribute the full $95,000?
- Or do I have to deduct the 3 years of my residency in the US? ie $95,00 - $16,500 (2021, 2022, 2023) = $78,500
- My CRA login does not list contribution room as I'm still a non-resident until I file my 2024 return as I just moved back in May
I will also try calling the CRA, but figured to try here as this forum has been helpful with my relocation.
Thanks!
- Can I contribute the full $95,000?
- Or do I have to deduct the 3 years of my residency in the US? ie $95,00 - $16,500 (2021, 2022, 2023) = $78,500
- My CRA login does not list contribution room as I'm still a non-resident until I file my 2024 return as I just moved back in May
I will also try calling the CRA, but figured to try here as this forum has been helpful with my relocation.
Thanks!
