..since this is a tax free account, losses, gains within are not considerd. The funds with drawen anytime in 2011 plus the new $ 5,000.00 only can be in 2012.. Say you got lucky like Silver, and cashed out $ 90,000.00 in 2011 he could in 2012 transfer back $ 95,000.00 or over the next any yrs going forward plus a new $ 5,000 each yr until he reaches the amount with drawen....Selling at a loss in a margin or cash account may benefit some if they have a gain here with others stocks in their portfolio and top up their TFSA if they have the contribution room while stocks show good value.. PS " my-self a on-line trader, hilite e-services and ones accounts ( TFSA ) show contribution room..with drawls..Traps7