Joint interest income between spouse at 50% each. Report half of T5 amount on each of spouse returns?

[clinkletter1]

We have interest income but want to split it 50% (based on proportionate share) between wife and I. I saw an option on turbo tax to apply % but it did not actually do it. For example if interest income on T5 was $100, should I do $50 for each of us when reporting the T5s or is there another way Turbo Tax does it?

[TurboTaxSusan]

To do this in TurboTax Online, you would enter the T5 slip for one spouse, then at the bottom of the T5, enter a percentage in the box labeled “Enter percentage of slip to claim on your spouse's tax return (if applicable)”. Then click the “Done with T5” button to go to the “T5 – Summary”. When you are finished entering all your T5 slips, click on “Done with T5s”, and continue on until the “Here's your income summary”. You will see the T5 split on that page, not the “T5 – Summary” page. 

[clinkletter1]

When I go to "Income Summary" it still shows as almost everything to me even though in both T5 slips i put 0.5 for spousal part.

[clinkletter1]

I realize what it is, I need to put 50 and not 0.5 for the 50%.

[TurboTaxGinette]

In order to help you with this situation, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help resolve the issue. To contact them, please follow this link: Contact Us. 

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