Joint Accounts (T5) are with person, not my spouse, so 3 issues arise in Turbo Tax:
-I can find nowhere no where to name or give SIN of joint holder;
please reply if you found it
-the box for giving % split states that it is for spouse; I can find no where to give % when it is not a spouse
please post if you found it
-the T5 slips are issued only to primary holder as designated by the bank so for clarity given the flaws in Turbo Tax online, they want to upload a copy of the T5 slip I received which names us as the joint holders and a statement to clarify split %;
please share information on uploading files in my computer into each of our TurboTax documents.
Thanks for any help.
If you are splitting a T5 with someone who is not your spouse, you will enter the T5 on your return with the amounts adjusted for your share. You'll give a copy of the T5 to the other account holder and they will do the same.
Same situation here where my T5 is joint with someone other than spouse ...
Please confirm which of the following (#1 or #2) is the correct way to input the information on EACH of our individual TurboTax file.
Using these these numbers as example:
- 50%-50% attribution between parent & child
- $100 on Box 13 on T5
Input #1: (On each .tt23 file)
1) "You percentage" = 100%
2) "Box 13" = $50
OR, Input #2 (On each .tt23 file)
1) "Your percentage" = 50%
2) "Your spouse's percentage" = 0% <--- override F2
3) "Box 13" = $100
Both methods yield correct $amount on T1-SUPP but Input #2 gave this FIX error during review.
The amount you report for interest income cannot be less than the sum of 'Bond interest', 'Interest from T3 slips', 'Received mortgage interest' and 'Bank interest'.
Many thanks!