I have sold vested RSUs received through my employer. Do i need to complete a T5008 if the income and tax paid are included as part of my T4?

[etspaule]

The proceeds and income tax paid on the disposition show on my T4 as employment income and income tax deducted. Shares were sold on the day they vested so if i have to do a T5008, do i just make lines 20 and 21 the same?

[Kashmira-TurboTax · Accepted solution]

Hi,

The amount and income tax deducted shown on T4 is the difference between FMV and vested price on your RSU which is added to your income and income tax deducted by employer. However if you are selling the RSU you need to enter the information in Schedule 3 through T5008. If shares are sold on same day they got vested, you can enter same amount on Line 20 and Line 21 if the sale price is same as the vested price of RSU.

Hope this is useful

[ryandlor]

Hi, wondering if I can add to this?

I have RSU Income as well, and an additional deduction on pay titled RSU DED. However, the RSU income is on my t4 but not the RSU DED. Where should that info be sent from my employer?

@Kashmira-TurboTax 

[TurboTaxGinette]

For information/clarification about RSU DED, please contact the Canada Revenue Agency: Individual tax enquiries line at 1-800-959-8281.

Thank you for choosing TurboTax.