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 May 28, 2020 1:58:14 PM

I participate in buying/selling shares through my company and at tax season I get both a T4PS slip and a T5008 slip. Do I need to include both when filing my taxes?

0 2 786
2 Replies
Level 15
May 28, 2020 5:26:02 PM

As a rule, you'll need to enter the information from every T-Slip you receive. There is different information on the slips, although it would appear they relate to the same investment.

  • The T3 - Statement of Trust Income Allocations and Designations slip shows income earned in the fund and capital gains at the fund level based on your fund manager buying and selling. (or activity in account).
  • The T5 - Statement of Investment Income slip can include interest, dividends, and certain foreign income.
  • The T4PS - Statement of Employees Profit Sharing shows allocations made within the Profit Sharing Plan throughout the year.
  • The T5008 or December 31st account statement shows capital gains based on YOUR buys and sells. (usually only received when you sell or cash out).

If you are issued both a T5008 and T4PS, you'll need to verify what the Capital Gains on these slips relate to. If you have a T4PS with Box 34, does this relate directly to shares that you have cashed in or sold? And if "yes", are these the same shares being reported on the T5008. 

New Member
May 28, 2020 6:32:58 PM

Thank you for your response 🙂 You are correct, this is related to shares that I have sold in 2019, the same shares mentioned on my T5008.  My T4PS does not have anything reported in box 34