Hi, I trade quite often with platforms, such as Questrade and other direct investing. I use TurboTax, and it is connected with CRA. I can see the Autofill has imported many trading summaries and T5008. Are capital gain and loss automatically calculated from these forms? or I have to calculate these numbers and type them in manually?
Thank you!
Thank you for the question.
Capital gains and losses are not calculated automatically. The form you get from the brokerage firm you are with is the information relating to book value and proceeds of disposition. You must enter that information when you get to the part of your tax return that deals with investments, and from there it will calculate the gain or loss for you.
To report capital gains or losses on TurboTax, follow the video in this link.
kayla_hickey-hot
New Member
williamjdsouza
New Member
Ayad1
Level 1
Smilingalong
New Member
Milo8
Returning Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.