Is a T5008 Securities Transaction automatically calculated in the Capital gains and thus automatically eligible for a capital gains deduction?

[TurboTax-Duncan]

Hi, thank you for using Intuit turbotax  Live Community

Not all capital gains are eligible for the capital gains deduction as discussed in the Canada Revenue Agency (CRA) documentation:

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

Publicly traded securities transactions reported on a T5008 would not be eligible for the capital gains deduction. The types of capital gains transactions reported on T5008 are listed in the following CRA link:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4091/t5008-guide-r...

So, TurboTax will not automatically apply the capital gains deduction for publicly traded securities posted to section 3 of the schedule 3 from the T5008 slip, which follows the CRA rules.

Hope this helps