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Rick135
New Member

Capital Gains Tax and Ineligible Dividends - right product for first time filling

Hello,

 

I've been using TurboTax since I started filling taxes back in university. I've always used the personal one  which is now Deluxe. 

 

I recently bought shares in a privately owned Canadian company based out of Ontario where I have been employed for the past 6 years.

 

The other shareholders and I decided to sell the company. 

Based on how everything is looking. I will be getting

- Capital Gains from the sale

- Inelgible Dividends

- Eligible Dividends

 

I didn't take a loan out to buy the shares and I've never received dividends from the company prior to this, so I just file my personal taxes as I normally would.  I've just passed the two year of owning the shares so receiving all these dividends and capital gains has me stumped. 

 

A couple questions,

1.Which product should I purchase in order to file my taxes properly

2. Is there a trial version or old version that's free that I could use to play around in and see if I can it myself before going the accountant route? 

3. What are some gotchas that I should watch out for when filing it myself. 

 

Thanks

 

 

1 Reply

Capital Gains Tax and Ineligible Dividends - right product for first time filling

You will use our TurboTax self-employed. This will cover everything you need. You can do a fake return in a TurboTax self-employed 2020 software. You will only be able to use our Online version for this fake return and only go until you need to pay- before the review section. 

 

Thank you for choosing TurboTax.