Tax Centre
How Luum Wealth tracks adjusted cost base (ACB), capital gains, contribution room, and tax exports.
Investor tier and above (tax reports and contribution room)
The Tax Centre gives you a consolidated view of the tax dimensions of your portfolio. It is informational only, always confirm figures with a qualified tax advisor or accountant before filing.
Not tax advice. Luum's Tax Centre is an educational tool. Capital gains calculations use the average-cost method (ACB for Canada). They flag possible superficial losses but do not adjust for them, and do not account for spin-off cost-base allocation or other jurisdiction-specific adjustments. Consult a qualified tax professional before filing.
For Canadian users
Adjusted Cost Base (ACB) tracking
Luum calculates your ACB for each security using the average-cost method, the same method required by the CRA for most investors. As you buy and sell positions, ACB is updated automatically from your synced transaction history.
Capital Gains Report
The Tax Centre shows your realised capital gains and losses for the current calendar year, broken down by security. You can export a T5008-style CSV covering all dispositions in the year. A running year-to-date total sits above the tabs so it is visible outside tax season.
Figures cover every reportable account together rather than one at a time, because the CRA pools identical securities per taxpayer rather than per account. Registered accounts are excluded, their gains are sheltered.
Contribution deadlines
During the run-up, Luum shows how long is left before the RRSP deadline (the 60th day of the following year, moved to the next business day when it falls on a weekend. Luum does not adjust for statutory holidays) and before new TFSA room is added on 1 January.
The TFSA date is not a deadline: unused TFSA room carries forward indefinitely and nothing is lost at year end. What changes on 1 January is that a new year's room is added and a withdrawal made during the closing year becomes available again.
TFSA Contribution Room
Available on the Investor tier and above. You enter your room from your CRA Notice of Assessment or CRA My Account, and Luum draws the deposits it has recorded down against it, flagging when you are near the limit and, separately, when you are over it and the CRA's 1%-per-month penalty applies. Luum does not calculate the limit itself: room depends on carry-forward, prior-year withdrawals and contributions to accounts Luum has never seen. Your authoritative room is in CRA My Account.
RRSP Contribution Room
Luum shows the RRSP deduction limit you enter from your NOA (Notice of Assessment) and draws recorded contributions down against it. It does not estimate the limit from your income. As with TFSA, the authoritative figure is always your CRA My Account.
Scheduled Contributions
Model planned contributions against a portfolio and see the projected impact on your long-term portfolio value. Room tracking itself covers TFSA and RRSP only.
For US users
1099-B CSV Export
US users on the Investor or Wealth tier can export a 1099-B–style CSV of all realised dispositions for the calendar year, including proceeds, cost basis, and gain/loss. This is a reference document, your actual 1099-B is issued by your brokerage.
Cost Basis Tracking
Luum tracks your cost basis per security using the average cost method. It does not support specific-lot identification (HIFO, FIFO), consult your brokerage for lot-level cost basis reporting.
Currencies
The Tax Centre displays amounts in your reporting currency, CAD for Canadian users, USD for US users. FX conversion uses Bank of Canada daily rates (for CAD/USD) sourced from the BoC Valet API.
Questions?
Email us at support@luumwealth.com.