Do I have to enter every T5008 line?

If you have a T5008 summary or many T5008 slips, you can enter as one combined transaction or individually as T5008 T-slip entries. If you choose to enter as one transaction, simply add all your Box 20 amounts and Box 21 amounts and enter in the corresponding boxes on the T5008 Slip Screen. 

 

• You can also enter the dispositions individually or as one transaction in the Capital Gains & Capital Gains Deduction Profile. You can access this from the sidebar of TurboTax by clicking on Income > Investments > Capital Gains & Capital Gains Deduction Profile. Check the box next to Sold stocks, bonds, real estate, other capital property, and continue until you reach the Capital Gains page. Here you can enter more details on your dispositions such as dates, number of units, etc.

 

Many taxpayers prefer to enter all their dispositions (shown on T5008 slips or not) in a separate spreadsheet or other document and make one single entry. CRA is fine with this, just remember to keep your records for backup if CRA requests them. 

 

NOTE: Only choose one method of entering your dispositions. If you enter them as T5008 entries, do not enter again in the Capital Gains & Capital Gains Deduction Profile, and vice-versa.