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kglarue
New Member

Hi there, do I need to fill out the capital gains form if I already submitted a T5008 for the sale of some stocks?

 
1 Reply

Hi there, do I need to fill out the capital gains form if I already submitted a T5008 for the sale of some stocks?

T5008 - Statement of Securities Transactions just reported your income or loss from selling your securities transactions which are included publicly traded shares and many other financial products such as bonds, T-bills, and mutual fund units. That's why the capital gains from selling your stocks will not be reported in the T5008 slip.  

For reporting your capital gains from selling your securities transactions, you will need to complete

5000-S3 Schedule 3 - Capital Gains (or Losses) in 2020 (for all). As per the Canada Revenue Agency (CRA): "Once calculated, 50% of the total is transferred to line 12700 of your tax return as your taxable capital gain amount." 

For more information, this link below from our website will be useful. 

Claiming Capital Gains or Losses. 

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