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Hi! I adjusted my T3 slips with capital gains 50%, but under detailed tax, all capital gains is still under myself?
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@wendy46 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.
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I am using the 2024 Turbotax Standard download version. I received a couple of updates last week and applied them but the tax split for capital gains between me and my spouse is still not working. It does not split it 50%, as I have specified, but applies 100% of my capital gains to me and 100% of my wifes capital gains to her. It is making a big difference in my refund amount. When will this be fixed?
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I don’t work for Turbotax. I am just a user who raised this issue with them several weeks ago. I worked around the problem by manually calculating the distribution with my spouse, then reporting distributions individually on each return.
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Thanks for your response. I have tried that and it gives me the right numbers. But, I don’t want to submit my return with a faulty software. I would like to hear from turbotax why they are not fixing it. Ideally, I would like to have it fixed, so I can submit my return with the correct numbers.
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Is there an update on this problem? Even though there is a workaround of manually calculating the 50% split for Capital gains, I would prefer to not submit my return with a defective software and would rather wait for the fix. It is getting close to the deadline and I don't want pay a penalty. Please provide an update. Thanks
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Thanks. I was attempting to send this question to TurboTax Support. Not sure if they will see this and respond.
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@sarif01 What boxes are you filling out on your T3 slip?
On your T3 slips:
- Enter the 50% under your percentage
- If you have an amount on box 21 you need to enter that same amount in box 52 or 53 (either or not both)
This transfers correctly to Schedule 3 at 50% for each person.
See the example below:
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