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 Mar 12, 2023 9:38:14 PM

Entering Joint Statement Information

The TurboTax instructions provide the following direction on entering T3 and T5  joint investments:

  • Although this amount does not appear in your spouse's T3 entry window, do not re-enter it there. It has been included on his or her Schedule 3 - Capital Gains or Losses, or INVEST worksheet.          
  • Although this amount does not appear in your spouse's T5 entry window, do not re-enter it there. It has been included on his or her INVEST worksheet.

However, there is nothing similar mentioned about T5008 joint investments. Does anyone know if the information needs to be entered in each "coupled" return or does it only need to be entered once like the T5 and T3 info? Said another way, if I enter and allocate 50% in my return, will the balance allocation of 50% automatically be included in my spouses return?

0 1 651
1 Replies
Moderator
Mar 17, 2023 10:25:44 AM

Yes, the T5008 works similar to the T3 & T5. If you enter the slip on one spouse and put in a percentage, the remaining portion will automatically go to the other spouse.