I am so confused on how to come up with this amount I called the CRA three times to figure it out but they make it sound so complicated. One told me to take my net amount and subtract my proceeds of disposition another told me something else and the next person I talked to gave me a completely different answer from the first two! Can someone give me a step by step way to do it?
Phone your investment people and ask for a gain/loss report. T5008's are a notification to CRA regarding transactions, not necessarily meant to be input by taxpayers. They can be, but you have just run into the main problem with them. They do not have to show cost.
Thanks for the reply, I do have a gain or loss report but I don't need to put the cost down? I also don't see a place to put the gain or loss on the Turbo Tax Form. Can I just put line 14 15 16 17 21 and send it?
If you just plug it, you might not be able to netfile it. If you don't put in the cost, the entire value will become taxable income. The gain or loss is the difference between the cost and the selling price. If you have a gain/loss report, use that to get the cost for the T5008.
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