I am a day trader and wish to declare a loss for the tax year.
I followed the instructions here for reporting income from day trading in my T5008:
How do I report income made from day trading?
Basically, on the T5008, for the Type of Income field, instead of selecting "Capital gains", I selected "Investment" as indicated in the article above.
Now, when I review at the end, I get the following warning:
There is a loss for at least one of the T5008 slips which you have reported as investment income. Loss is allowed only when investment activities are reported as business.
How am I supposed to do this? There is no easy guide which guides me through this process to correct this warning and I followed all the steps exactly in the mentioned article.
