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whishca
New Member

T5008 SLIPS PROCEEDS (BOX21) are being counted as income, when only the capital gains should be income. How do I correct this?

 
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T5008 SLIPS PROCEEDS (BOX21) are being counted as income, when only the capital gains should be income. How do I correct this?

Thank you for your question.

You will want to make sure that for each slip that box 20, cost value, is entered. This is what allows the program to calculate the gain between cost and selling proceeds.

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2 Replies

T5008 SLIPS PROCEEDS (BOX21) are being counted as income, when only the capital gains should be income. How do I correct this?

Thank you for your question.

You will want to make sure that for each slip that box 20, cost value, is entered. This is what allows the program to calculate the gain between cost and selling proceeds.

T5008 SLIPS PROCEEDS (BOX21) are being counted as income, when only the capital gains should be income. How do I correct this?

The turbo tax automatically added it as income....where do you put box 20