Solved: No 50% reduction of capital gains was calculated ....

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

 
1 Best answer

Accepted Solutions
Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

The Net Capital Gain is reported on Line 127 of the tax return. Review the detailed federal tax summary for the correct income inclusion.

DETAILED SUMMARY

You can find a detailed summary of your tax return under the "Review" tab > "Bottom Line (tax summaries)"> then look for the paper and magnifying glass icon in the lower left hand corner, select "Detailed Tax Summary". You will have a line by line sample of the Federal Tax 

View solution in original post

6 Replies
Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

The Net Capital Gain is reported on Line 127 of the tax return. Review the detailed federal tax summary for the correct income inclusion.

DETAILED SUMMARY

You can find a detailed summary of your tax return under the "Review" tab > "Bottom Line (tax summaries)"> then look for the paper and magnifying glass icon in the lower left hand corner, select "Detailed Tax Summary". You will have a line by line sample of the Federal Tax 

View solution in original post

Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

When I examined the detail summary I noticed that the taxable capital gains had not been reduced by 50 %
Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

Have you entered the information twice perhaps. Once for yourself and again for a spouse?
Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

Thank you for this. Entered T5008 and filled in capital gains profile. Have removed capital gains profile. Why is this there? Problem solved.
Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

Investment transactions can be reported in multiple formats depending on the nature of the transaction, stock versus real estate and if the transaction went through a broker or self administered by the taxpayer.
Highlighted
New Member

No 50% reduction of capital gains was calculated . Problem

An informative answer. Thank you.
v