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boole
New Member

I downloaded T5008 info from CRA Website entered book value on the T 5008 but the capital gains don’t show on the T 1 something wrong?

 
3 Replies

I downloaded T5008 info from CRA Website entered book value on the T 5008 but the capital gains don’t show on the T 1 something wrong?

You need to "Edit" each T5008 slip from the T5008 Summary page to add your Box 20 amounts. (You can also choose to add up all your T5008 slips and enter as one entry on the T5008 slip page).

When you are looking at the T5008 Summary page, what you are seeing are the amounts you entered in Box 21 of the T5008 slip only. The actual capital gain/loss is not seen on this page.

After completing all your entries, if you have a Capital Gain, you will see it on Line 127 of the Detailed Tax Summary. Capital Losses are not seen on the current year's tax return. 

You can also see these entries after you pay for your return (even the Free version must go through the payment process) on the PDF view of the T1 General.

Steeps
Returning Member

I downloaded T5008 info from CRA Website entered book value on the T 5008 but the capital gains don’t show on the T 1 something wrong?

I have capital losses on my T5008 which I want to carry back, it's not showing up on the T1A form for loss carryback.  Does this need to be entered manually?

TurboTaxHeba
Intuit Alumni

I downloaded T5008 info from CRA Website entered book value on the T 5008 but the capital gains don’t show on the T 1 something wrong?

The T1-Adjustment form has to be filled in manually to claim the capital loss in previous returns then mailed to CRA. 

 

Here is a list of what you can or cannot change using your CRA account:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change...

 

I hope this was helpful