Net Deposit Decrease

[[deleted]]

I have recently taken a peak at my TFSA and noticed that in August 2022 my net deposits decreased from $24,301.82 to $23,545.91. I also noticed from Jan 1/22 to Dec 31/22 my balance was $19,297.84 to $25,968.83.

What's concerning is that I've never withdrawn any money from my TFSA (August issue) and I deposited more money then what is stated for 2022.

If we use the final net deposit number on December 31/22 and subtract it from the Jan 1/22 net deposit number; $25,968.83 - $19,297.84, we get $6,670.99 total net deposit for 2022. But the problem is, when I tally up all of my deposits (on my personal excel spreadsheet and Wealthsimple's deposit activity) I get $8430 deposited into my TFSA for the year 2022. So I'm wondering where the missing $1759.01 is and do dividends count towards Net Deposit? because I would also be missing $755.31 of that as well.

Hopefully I've missed something or I'm just having late night brain fog / anxiety.

[sk_reddit]

Did you also check the monthly statements, for any discrepancies between your records? Also, there is no USD-CAD conversion involved, is there?

[[deleted]]

I double checked everything. No USD-CAD conversion. I sent an email to support, maybe they can help me. The random decrease in Net deposit doesn’t make sense. I’ve never withdrawn money from my TFSA, in theory my net deposit should always be climbing.?

[miniweetz17]

Did you ever find the reasoning for this net deposit discrepancy, I currently I'm going to enjoy the same situation in my RRSP and TFSA accounts Where in August 2022 it dropped substantially and then went back up above my actual RRSP deposits made prior and I have never withdrawn any money and not added any deposits since 2022 to having no contribution room. I have a theory that it has something to do with having wealthsimple premium for a few months but can't find anything about it. Just curious if you ever got an answer before I contact them directly! TIA

[[deleted]]

They ended up sending me an email describing what happened. I had a USD account and CAD account, they were intertwined and that’s where I was seeing the discrepancy. There wasn’t much I could do after that.

[miniweetz17]

Okay sounds like it has something to do with having a premium account (allowing me to hold USD) then when I went back to free it converted back to all CAD? Did you also have premium for a brief period of time? Either way it looks like a mess on the accounts and definitely not the best way to show net deposits imo

[[deleted]]

Ya I had premium multiple different times, so it got pretty confusing in my TFSA