Have some cap gains from a non-registered savings act in which we sold some mutual funds...How do we calculate and report??

[tomhewitt1]

Have a non-registered savings account in which we hold mutual funds..Sold some funds in 2014 resulting in a cap gain...How do we calculate the amount of the gain and how do we report it on TurboTax?

[TonyC11 · Accepted solution]

Your financial institution may issue a T5008 for the sale of these units, and also may have issued such a slip when the units were purchased. These slips will show purchase and sale prices of the units. They should also show any costs or fees associated with the transactions.

In any event, whether you receive T-slips or not, your capital gain is based on the sales price of
the units less the Adjusted Cost Base (ACB) less any fees.
Refer to your financial institution or to CRA's Mutual Fund guide (highly recommended) as to how to calculate ACB.

Note, for T5008 you may need to access your financial institution web pages to download slips such as this and any Others.