Q&A With Gordon Pape: U.S. Real Estate and TFSAs

A blackboard with any questions written on it in handwriting.

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Here, a reader is interested in buying income-producing property.

Q – What are the taxation guidelines regarding income producing U.S. real estate in our TFSA? I am Canadian. – Beryl R.

A – There are no rules because you are not allowed to own physical real estate (land or buildings) in a TFSA under any circumstances. You can invest in securities that hold these assets, such as REITs, but not the property itself. – G.P.

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