I sold a covered call on my stock, decreased my book value. How do I report that? Some calls are excised, how to adjust my book value and box 20 on T5008? Any proof need?

jaideliu · ‎September 22, 2024

I always do short straddle and my self directed brokerage do not have the right number on box 20 T5008. They told me I need to calculate it adjust that myself. I know what my right book values are and have all the right number for my G&L, how do I report that under capital Gain? Do I need to provide any book value proof to CRA for me to correct my book value?

TurboTaxBrenda · ‎September 24, 2024

You will need to provide proof of the amended amounts to CRA so they do not change your return after you file the amount to the original T5008.

Thank you for choosing TurboTax.

I sold a covered call on my stock, decreased my book value. How do I report that? Some calls are excised, how to adjust my book value and box 20 on T5008? Any proof need?

Investors and rental owners