I have numerous downloaded T5008 tax slips. Date of disposition and outlays and expenses is not filled out. Do I need to fill these out? The banks know already.

[TurboTaxAniqua]

You do need to fill out that information. 

Thank you for choosing TurboTax.

[ryanacole]

Thank you very much.  I am working on creating a T5008 summary.  As I understand it the T5008 forms list every transaction to tell the CRA that there have been stock transactions.   But they should not be relied on in order to enter capitsl gains.  I can do a T5008 summary and enter the final results for each category.  I can do this by downloading a CSV report from my financial institution. 

Where would final summaries be entered?  From memory, I see that the T5008 forms say "do not enter this info as a capital gain" or something similar.  I find this confusing.

[TurboTaxAniqua]

Yes, if you have many T5008 forms, you can add the amounts from all of them and report them on just one form while filing your return. Some of the fields on your T5008 slip may not be in TurboTax. You only need to enter the T5008 slip information that TurboTax asks for. 

To enter the information of your T5008 in TurboTax, follow the steps outlined below:

1. Sign in to your return.
2. Click Find (or the magnifying glass icon) from the top right corner of the page
3. Enter T5008 in the Find window
4. Select T5008 Securities Transactions from the list of results, then select Go. The T5008 - Summary step appears
5. Select Enter New T5008. The T5008 - Securities Transactions step appears

Fill out the form in TurboTax with the information from your slip. If your T5008 slip is for a joint account shared between spouses, enter your spouse’s percentage of ownership in the field  Enter percentage of slip to claim on your spouse’s tax return (if applicable)

1. Select Done With T5008. The T5008 - Summary step appears
2. Review the information on-screen and follow the instructions below that match your situation:

• If the information is correct, select Done With T5008 Slips
• If the information isn’t correct, select Edit next to the slip and correct the information. When you return to this step, select Done With T5008 Slips

For more information on T5008 visit our TurboTax article -T5008 Slip - Statement of Securities Transaction

For more information, visit our TurboTax FAQ:How do I enter a T5008 slip (and matching Relevé 18, if applicable)?

Thank you for choosing TurboTax.