When using the Data import from CRA, the T5008 capital gain/loss information does not carry forward to the Schedule 3 Supplemental T5008 section or any other place.

[TurboTaxBrenda]

Did you enter a disposition date?

[Marilyn30]

Yes, thank you.  I saw that earlier in the thread of messages and tried it and it worked. 

However, I have another problem with a shared T3.  There are capital gains and other income.  I have put it 50% to my husband, 50% to spouse.  Other income is split, but the capital gains are 100% on my husband's return.  What do I have to do to have it split 50/50?

[TurboTaxBrenda]

Did you enter the T3 on both spouses returns or only on one, saying that 50% was split with spouse?

[Marilyn30]

I only entered the T3 on my husband's return, saying that 50% was split with me.  Boxes 49, 50 and 51 for dividends, and box 26 for other income were split properly.  But box 21 for capital gains was not split.  I think I know what happened.  Because capital gains are now split between period 1 and period 2, additional boxes were added, boxes 52 and 53, with the capital gains split by period.  These are the boxes that were used to calculate the gains on Schedule 3 instead of box 21.  It seems that the 50% split was not picked up for these additional boxes 52 and 53.

[MBLloyd1]

What disposition date do I use as it is not on my T5008 which was automatically inputted from CRA?  Also, if they are a disposition of Mutual Funds what type of Income do I report it as? I did not have this problem last year. Thank you.

[TurboTaxSusan]

@MBLloyd1 The 2024 T5008 requires a date of disposition due to the new capital gains rate that was supposed to apply to Capital Gains after June 24, 2024. Even though the new capital gains rate is not going into effect, the requirement is still there. So, you can use any date in 2024, if you don't know the exact one.  

The distributions from a mutual fund can be capital gains, capital gains dividends, dividends, foreign income, interest, other income, return of capital, or a combination of these amounts.

When you sell or redeem (or cash in) the units or shares, then it's a capital gain/loss.

 

[Marilyn30]

 I haven't received a response to my T3 question.  Right now, TurboTax is not allowing the capital gains on the T3 to be split between spouses.