How do I report T5 income split with a person who is not a spouse. An inheritance has provided investment income to two adult children, the T5 was made out jointly.

[TurboTaxLise · Accepted solution]

If it's an inheritance, then the trustee should be taking care of that but otherwise each T5 holder is responsible for their own %, if the account is held in both their names, then you enter in their percentage while keeping the other account holder's % as well as SIN#; for your record in case the CRA asks for it later.

[chrisaaron1984]

Is there a way to enter this directly in TurboTax on the T5 slip pages? I see a field for the percent that will be claimed by a spouse, but in my instance, I split with a brother. How would I enter this in TurboTax?

[TurboTaxLise]

@chrisaaron1984 - T5 joint investment holders:  Each owner of a joint account is required to report their individual percentage of the total income (interest, dividends, capital gains, return of capital) according to the same ratio as their proportionate contribution of funds to the joint account.