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?
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
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.
@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.
Did I miss something on turbotax that would have answered this query before?
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!
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