How to properly report capital losses shown on a T5008

tylerandheather · ‎October 30, 2019

I have T5008 forms for securities transactions that resulted capital losses. I am using the T5008 section to enter the required information and selecting capital gain as the income type. But I get a warning during the review that says I have losses reported as investment income. I have double checked that I have indicated capital gains on each T5008 entry. Should I just ignore the warning or do I need to fix something?

TurboTaxJeffrey · ‎October 30, 2019

Please check the "Detailed Summary" to see if you are showing a negative amount at line 121, or zero at line 127. If you are showing zero at line 127, then you are good. Technically capital losses are an investment loss.

To get to the Detailed Summary click "Review" then select "Bottom Line Tax Summaries". Then click "Detailed Tax Summary." I have included screenshots.

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How to properly report capital losses shown on a T5008

Investors and rental owners