First of all, you should receive a separate T5008 for each CAD securites and USD/foreign securities 

T5008 shows no cost, the cost base information is from your record or from bank/broker statement

T1135 is  Foreign Income Verification Statement, therefore should not include CAD securities, and you only need to report it if your total cost for all your foreign securities is higher then 100,000 

I received two, the T5008 and the Foreign Income Verification statement.  On the T5008 one stock was liquidated with a Canadian loss and does not show up in Turbo Tax when coming from the bank.  The other Income Verification Statement shows the same stock sold with a loss.  How where is this reported?  Thanks,

T5008 reports income from different sources. So you should get slips for the Canadian sources and different slips for the US stocks. The Bank or the Financial Institution should indicate the currency and the country on the T5008 slip. If it is not in Canadian dollars then you should convert it or choose the right currency.

Some T5008s sent from the financial institutions to CRA are missing Box 20 for the cost value. You should obtain this information personally from your broker, and update it manually.

When you transfer the data to your return by AFR (Auto-Fill My Return), the information is imported from CRA not from the Financial institution. If the Broker doesn't send all the T5008s to CRA in time, they will not be available for AFR, which means you will have to obtain this information from the slips sent to you from your broker. 

The only time you need to file a T1135 form for Foreign Income Verification is when the cost value of the fund where the T5008 slips came from is $100,000 CAD or more. If the income is reported in the T5008, you will not need to report them again, just file the T1135 for foreign income verification statement. The statement doesn't add the income to the return again. 

If you have more Foreign Capital-Gain or Investment income that has not been reported in a T5008 from a foreign income source, then you will need to report a Foreign Income source --> you will find it through the search engine in the top bar. 

I hope this was helpful

Greetings; 

Your instructions are "mostly" helpful - however

I have T5008 which have already reported a capital gain, following which the Foreign Income Report (T1135) also identifies a gain of similar amount.  

In the software adding the T1135 data to the foreign income area under capital gain/loss appears to account for the gain twice in calculation. 

I understand the need to have a foreign income slip - but should I not only be counting any gains in one location?

I have a similar question. I noticed both t1135 and t5008 have similar numbers. I only used the t1135 for my foreign investments. Otherwise you will pay double the tax. Can someone please verify this. 

The only time you need to file a T1135 form for Foreign Income Verification is when the cost value of the fund where the T5008 slips came from is $100,000 CAD or more. If the income is reported in the T5008, you will not need to report them again, just file the T1135 for the foreign income verification statement. The statement doesn't add the income to the return again. 

Thank you for choosing TurboTax.