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Investors and rental owners
The capital gains are claimed by completing schedule 3 for the current tax year, to report eligible capital gains from all sources. Once calculated, 50% of the total is transferred to line 12700 of your tax return as your taxable capital gain amount.
To report your Capital Gains/Losses on TurboTax, please follow these steps:
If Capital Gain/Loss is reported on T5008, T5, T3, T4PS, or T5013 slips:
- Select Find (or the magnifying glass icon).
- Type the name of your T-slip in the Find window (for example, type T5008).
- Select the name of your T-slip from the list of results, then Go.
- Enter the amount on the slip directly onto the TurboTax screen dedicated to that slip.
Capital Gain/Loss not reported on a T-slip:
Note: Before you begin, be sure to determine the type of your capital property, and calculate your proceeds of disposition and adjusted....
- Select Find (or the magnifying glass icon).
- Type capital gains in the Find window.
- Select Capital Gains and Capital Gains Deduction Profile from the search results, then Go.
- On the Your Capital Gains Profile for 20xx screen, follow the instructions to report your gains or losses.
For more information, please see:
- Where do I report capital gains or losses in TurboTax Online?
- Schedule 3 Tax Form: Capital Gains or Losses in Canada
- Claiming Capital Gains and Losses
Thank you for choosing TurboTax. If you have further questions, please feel free to contact us
‎July 28, 2021
1:04 PM