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T3 Error - The Handling Capital Gains Split Between Spouses
I recently received aT3 with a Capital Gain of $200 in Box 21 and $600 of Other Income in Box 26. The Box 52/53 capital gain split was $150 and $50. This T3 is a joint account and so I set my % to 50% for me and 50% for my spouse. When I updated the T3 input form under my name, my taxable capital gains increased by $100 while my spouse's taxable capital gain remained unchanged. The Other Income was split 50/50 on our individual tax returns which is correct. The taxable capital gains should have increased by $50 on both returns not $100 on my return. So something is not right and I suspect the 50% is not being applied to the entries in Boxes 52 and 53.
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2 weeks ago