I'm a long time reader first time posting. Called my RBC broker this PM and he said if you gain on a transfer of shares from a direct investing account to a TFSA, you must report it but if you take a loss then you cannot claim it. He expressed that, in his opinion, it is not fair but that is how it is. I also asked about getting shares at the lowest price of the day in that transfer situation and he said no, it would be the price of the time I called. Interesting. Do different banks have different rules?