Investors and rental owners

ShaunaRC,

 

I was able to finally jerry-rig turbotax to output the right capital gains by figuring out what (wrong) math it was doing in the background, then correcting my inputs to get it to spit out the right output.

The main issue it had for me was it was asking for my spouse's and my portion of the ACB, so I put in half of it for my wife, and half for me into each box, the same way you do on CRA's paperwork - which, as you also discovered, spits out an extremely wrong answer. It turns out Turbotax needs you to put in the ENTIRE ACB in each of the boxes, not split between spouses. Then it uses the percentage of ownership you put in for each spouse to split the ACB into whatever proportion and does the math from there.

Which is clearly the wrong way to do it, since now there's no way to individually adjust the ACBs for each spouse - it's also deeply confusing since the form asks for a split ACB, then doesn't do the math for a split ACB.

In the end, figuring out this one silly page on Turbotax ate about three days of my life. It's half-baked and needs a serious redesign.