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T3 Slip - Capital Gains
I've had the same issue in regards to the calculation of capital gains from T3 slips, but I believe I have found the following:
On a T3 slip, Capital Gains is reported in Box 21, however, this year the CRA has added boxes 52 (capital gains before June 25) and 53 (capital gains after June 24). It appears (to me) that Turbotax does NOT use Box 21 for the actual tax calculation, but rather will solely rely on information in Box 52 and 53. So if you have a T3 tax slip with only Box 21 completed (and nothing related to Box 52 and 53), you will have to insert the Box 21 amount into Box 52 and/or Box 53 to be captured in the calculation. This seemed to work for me in the calculation of taxes. Does this make sense? Anyone else with the same experience or scenario? Is it "safe" to proceed to file now with NETFILE? Thanks!
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Troubleshooting
Thank you for the update; we appreciate it. We will pass it on to the assigned department. If all the calculations are correct, you can review and Netfile.
We are aware of this issue, and our development team is working on a resolution. We appreciate your patience.
Thank you for choosing TurboTax.
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I'm still having this issue. Should I just divide the amount in Box 21 and split it equally between box 52 and 53?
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@AnnaSofia We can understand your frustration. We are aware of this issue, and our development team is working on a resolution. Once it is resolved, we will update you in this thread. We appreciate your patience.
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Hi - has this issue been resolved or can you provide a solution? I'm having the same issue and it is preventing me from completing my tax form. Thank you.
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TurboTax is still working on a fix. I am still unable to complete my 2024 income tax - this year the software has not lived up to my expectations.
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@dollhouse We are attempting to resolve this error in collaboration with CRA. We hope to have this resolved by or on April 14th, and our development team is working on it. For our customers' awareness, we have placed a banner in the TurboTax filing section. Thank you for your patience.