Sitting at Summary & Review - how do I enter Box 118 on a T4A, and report the sale of a car?

[TurboTaxBhushan · Accepted solution]

Please go to income, T-Slips, T4A Slips and scroll down to the line 118.  Please note box numbers are not in order so you will have to scroll down to see it. 

Sale of the car: If it is a personal car, you don't have to report on your tax return. If the car was used for commercial purposes, then you can claim it on CCA section of your business statement.

[Kashmira-TurboTax]

Hi,

Thank you for your question.

From the Summary & Review - Click on Edit against Income section.

Click on Income tab from top menu and Go to 'T4A' slip. Press 'Edit' for the T4A and enter box 118.

Sale of car - Go to Profile section - Click on Edit against Income. Select 'Yes' for 'Did you had income from investments and sale of real property?'

Did you sell stock, bonds, mutual funds, real estate or other property? -'Yes'
Tick on -'I sold an automobile, RV, ATV, boat, cottage or furniture (personal use property)' and Continue.

Follow the interview steps and enter the sale proceeds to calculate gain/loss.

Hope this helps.
Thanks