If a T5 is in both my name and my spouse's name can either one claim it? or does it have to be the person who's social insurance number show in box 13 have to claim it?

[Sally71 · Accepted solution]

The social insurance does not matter.  You need to claim it according how much you contribute and your spouse contributes to it.  If both of you contribute 50/50, then you will specify in the software that your share is 50%, and that it is a joint account. Enter the amount from the slip only on your tax return. Then you do the same with your spouse's tax return, specify that it is a joint tax return and her percentage.

[itzmedork]

I dont see an area where you can enter the comments that it is a 50/50 account. It only allows me to enter an amount in her name or my name. where can i enter comments?

[Memorial535]

How do I report T5 jointly when both spouse and myself have social insurance numbers on the slip

[TurboTaxSusan]

@Memorial535 If you are using TurboTax Online or TurboTax CD/Download in EasyStep Mode, then at the bottom of the T5 slip page is a place where you can enter a percentage to split the amount with a spouse. If you are using TurboTax CD/Download in Forms mode it is near the top of the T5 entry pop-up.

If you are preparing your return together with your spouse, then you just need to enter the T5 on one spouse. TurboTax will automatically divide the amount based on the percentage entered.