Austin7
New Member

Entering amount in box 42 on the T3 form (Return of Capital) and adjusting the ACB of REIT units by the return of capital amount. Is this correct.

I am entering box 42 on the T3 form (Return of Capital) but not sure what TurboTax does with this information.  When selling REIT units I am adjusting the ACB by the return of capital amount.  I would like to ensure that the Return of Capital is not being double counted.  What does TurboTax do with the amount entered in box 42 on the T3?  I assume that it is for reference purposes only.