Hello TurboTax
I have started to fill out my tax return, but ran into a problem.
I have some 200 stock-market sales completed in 2004. I have received a PDF file listing all my sell transactions from the Bank. In Turbo Tax, when I reached the T5008 part of the return, where I have some 10 boxes to fill for my 200 trades, that would result in having to make 2,000 entries of 6 to 10 digit numbers. It is not only an invitation for errors, but feels insane!
In the past, the T5008 was downloaded automatically from CRA. There is nothing on the CRA website relating to T5008 data.
Also, there is a note in the Turbo Tax form saying that “If I am claiming capital gains/losses on the T5008, I should not enter these amounts again as capital gains/losses.”
I do not know how to deal with this. Any suggestion?
If you have multiple entries for individual stocks, you can enter them on a spreadsheet and get a total profit/loss for each company. If you have 200 individual stocks, you may need to total them all up on the spreadsheet and just input one total entry for either gain or loss. Keep the data as CRA may want to see the calculation.