Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 30, 2019 9:01:14 PM

Do I enter capital gains on T5008/RL-18 in the T5008 area or enter them under investments later. Do I input 50%

0 1 3710
1 Best answer
Level 13
Oct 30, 2019 9:01:15 PM

No, you claim them under the Tslip received only, do not reclaim them again in Investments. And the slip is to be entered based on the percentage owned.

Always make sure you enter your Federal slips first then your provincial ones.

You have to prepare a T5008/RL18 slip for all reportable transactions, regardless of the amount of proceeds. There is no administrative limit for reporting securities transactions. Enter, in dollars only, the total proceeds received by or credited to the recipient in exchange for the securities.  This is used in calculating the net investment income or capital gain/loss.

Below is more information if needed.

T5008 -Statement of securities transactionshttps://bit.ly/2TocUvr

From TurboTax FAQ on how to enter a T5008https://bit.ly/2TILPjB

1 Replies
Level 13
Oct 30, 2019 9:01:15 PM

No, you claim them under the Tslip received only, do not reclaim them again in Investments. And the slip is to be entered based on the percentage owned.

Always make sure you enter your Federal slips first then your provincial ones.

You have to prepare a T5008/RL18 slip for all reportable transactions, regardless of the amount of proceeds. There is no administrative limit for reporting securities transactions. Enter, in dollars only, the total proceeds received by or credited to the recipient in exchange for the securities.  This is used in calculating the net investment income or capital gain/loss.

Below is more information if needed.

T5008 -Statement of securities transactionshttps://bit.ly/2TocUvr

From TurboTax FAQ on how to enter a T5008https://bit.ly/2TILPjB