TaxTips.ca - Superficial Losses and Other Disallowed Losses
I think the article explains this well. I ended up using a spreadsheet to determine the Superficial Loss for the stocks in question. For TurboTax, using the T5008 T-Slips entry screen, I entered amounts given in Box 20 and Box 21 for each stock listed on the T5008 I received. For any stock with a Superficial Loss, I entered the negative amount as a new entry in Box 20. The first T5008 stock entry would cause a capital loss if Box 20 is greater than Box 21. The second Superficial Loss stock entry would decrease the amount of capital loss claimed, based on the Superficial Loss (30 Day Rule) or, if the amount is large enough, zero out or cancel the capital loss from the first entry. End result for filing is either the amount of capital loss claimed is reduced or eliminated.
