I had purchased gold from the bank but had to sell it and incurred a loss. The bank has issued a T5008 for sale price . Should I include the proceeds as taxable income?

ravikalyan · ‎October 30, 2019

Since the purchase price is more than the selling price it should be a capital loss. If so how is it entered in my tax return?

TurboTaxSusan · ‎October 30, 2019

You just need to fill in the T5008 in the program, and TurboTax will calculate any losses/gains. You don't need to enter the amounts any where else.

Investors and rental owners