How do I claim day trading losses, they are automatically showing up as t slips

[saculvez]

You could claim your loss under the instructions below:

1. Select Find (or the magnifying glass icon) from the menu
2. Enter T5008 in the Find window
3. Select T5008 Securities Transactions from the list of results, then select Go. The T5008 - Summary step appears
4. Select Enter New T5008. The T5008 - Securities Transactions step appears
5. Fill out the form in TurboTax with the information from your slip. If your T5008 slip is for a joint account shared between spouses, enter your spouse’s percentage of ownership in the field Enter percentage of slip to claim on your spouse’s tax return (if applicable)
6. Select Done With T5008. The T5008 - Summary step appears
7. Review the information on-screen and follow the instructions below that match your situation:

• If the information is correct, select Done With T5008 Slips
• If the information isn’t correct, select Edit next to the slip and correct the information. When you return to this step, select Done With T5008 Slips

Please view our TurboTax articles for more information:

How to Calculate Capital Gains When Day Trading in Canada

Where do I report capital gains or losses in TurboTax Online?

If you require further assistance please contact our phone support team or contact us directly on Facebook or Twitter.

Thank you for using TurboTax.

[Muskokie]

I have run into the same situation, day trading is considered business activity. As much as I have been able to gather, the T5008 should not be filled in but used to calculate business income(losses) from day trading.

On the T2125, if I report income (sale of investments) and expenses (purchase of investments) it calculates the loss correctly. Problem - now a warning stating CRA wants me to register for GST since the Gross Income (sale of investments) exceeded $30,000.

What is the correct way to fill in the T2125 to report day trading losses?
Thx!