Solved: Clarify box 21 in t5008

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Clarify box 21 in t5008

I had shares in MTS in which they merged with Bell (ended up with cash and Bell shares). My T5008 shows the cash proceeds only. Would I put the total of the cash proceeds and the cost to buy the Bells shares in box 21 or just the cash (what is shown on t5008?

1 Best answer

Accepted Solutions
Highlighted
Moderator

Clarify box 21 in t5008

Box 21 of the T5008 : This is the total amount of money received by or credited to the recipient in exchange for the securities. 

You have to prepare a T5008 slip for all reportable transactions, regardless of the amount of proceeds. There is no administrative limit for reporting securities transactions. Enter, in dollars only, the total proceeds received by or credited to the recipient in exchange for the securities. 

This is used in calculating the net investment income or capital gain/loss. For capital types of income, this is transferred to Form S3 SUPP, Schedule 3 Supplemental Statement and Schedule 3, Capital Gains or Losses under Proceeds of Disposition.

T5008 -Statement of securities transactions: https://bit.ly/2TocUvr

From TurboTax FAQ on how to enter a T5008 https://turbotax.community.intuit.ca/replies/2647749

View solution in original post

6 Replies
Highlighted
New Member

Clarify box 21 in t5008

Could someone post the entire form and highlight what goes in what boxes as the help menu shows me nothing. Well we know what goes in box 21.
Highlighted
Moderator

Clarify box 21 in t5008

@rangerbentman - please view the links below to explain.

T5008 -Statement of securities transactions: https://bit.ly/2TocUvr.

And this one from TurboTax FAQ on how to enter a T5008 - https://bit.ly/2TILPjB

I hope this helps.
Highlighted
New Member

Clarify box 21 in t5008

Thank you , all done .
Highlighted
New Member

Clarify box 21 in t5008

Did I miss something on turbotax that would have answered this query before?
Highlighted
Moderator

Clarify box 21 in t5008

I am glad you got it all done. And I updated the information to reflect what I posted for you as well. Enjoy your refund!
Highlighted
Moderator

Clarify box 21 in t5008

Box 21 of the T5008 : This is the total amount of money received by or credited to the recipient in exchange for the securities. 

You have to prepare a T5008 slip for all reportable transactions, regardless of the amount of proceeds. There is no administrative limit for reporting securities transactions. Enter, in dollars only, the total proceeds received by or credited to the recipient in exchange for the securities. 

This is used in calculating the net investment income or capital gain/loss. For capital types of income, this is transferred to Form S3 SUPP, Schedule 3 Supplemental Statement and Schedule 3, Capital Gains or Losses under Proceeds of Disposition.

T5008 -Statement of securities transactions: https://bit.ly/2TocUvr

From TurboTax FAQ on how to enter a T5008 https://turbotax.community.intuit.ca/replies/2647749

View solution in original post

v