redraes
New Member

Joint Accounts (T5) are with person, not my spouse, so 3 issues arise in Turbo Tax:

Joint Accounts (T5) are with person, not my spouse, so 3 issues arise in Turbo Tax:

-I can find nowhere no where to name or give SIN of joint holder;

please reply if you found it

 

-the box for giving % split states that it is for spouse; I can find no where to give % when it is not a spouse

please post if you found it

 

-the T5 slips are issued only to primary holder as designated by the bank so for clarity given the flaws in Turbo Tax online, they want to upload a copy of the T5 slip I received which names us as the joint holders and a statement to clarify split %;

please share information on uploading files in my computer into each of our TurboTax documents.

Thanks for any help.

Importing your data

If you are splitting a T5 with someone who is not your spouse, you will enter the T5 on your return with the amounts adjusted for your share. You'll give a copy of the T5 to the other account holder and they will do the same. 

jtwomtwo
New Member

Importing your data

Same situation here where my T5 is joint with someone other than spouse  ...

 

Please confirm which of the following (#1 or #2) is the correct way to input the information on EACH of our individual TurboTax file.

Using these these numbers as example:

- 50%-50% attribution between parent & child

- $100 on Box 13 on T5 

 

Input #1:   (On each .tt23 file)

1) "You percentage" = 100%

2)  "Box 13" = $50

 

OR, Input #2 (On each .tt23 file)

1) "Your percentage" = 50%

2) "Your spouse's percentage" = 0%    <--- override F2

3) "Box 13" = $100

 

Both methods yield correct $amount on T1-SUPP but Input #2 gave this FIX error during review. 

The amount you report for interest income cannot be less than the sum of 'Bond interest', 'Interest from T3 slips', 'Received mortgage interest' and 'Bank interest'.

 

Many thanks!

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@jtwomtwo 

Input #1 is correct.

Importing your data

It would be nice if this worked properly... the error message is so cryptic that if it wasn't for this article, I would never have resolved it.   So why do they allow the 2nd method if it doesn't work at first glance it is the intuitive way to do it? 

Importing your data

The option to enter in your percentage is there if you are splitting with a spouse and you preparing your returns together. But if you are not splitting your T5 with a spouse, TurboTax can't "see" other returns (siblings, children, etc..), so you have to claim 100% and manually split.

 

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The previous answers were good on how to solve the problem.  My last message was more of bug fix request than a question on how to do this (please let me know where I should do this if this is an inappropriate place). 

 

The previous message was  indicating that  for the user, the most intuitive way to share a T5  with some other than their spose is by using the F2 override and changing the spouse percentage to 0.  If this is going to break the software it should be disabled or at the very least have an error message that is not  a  cryptic error message completely unrelated to the problem.   

Importing your data

That answer was from jtwomtwo who's not an moderator or TurboTax employee. We don't recommend doing an override in this case.