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jamewe
New Member

Foreign capital gains cannot exceed total capital gains what does this warning mean

 
3 Replies

Foreign capital gains cannot exceed total capital gains what does this warning mean

If it is a Warning and not an Error, then it can be ignored and skipped. The Warning alert does not automatically mean something was done or entered incorrectly. It can be triggered if a high amount of certain credits or deductions are being claimed. Click on Review to verify that the right amount has been entered by clicking on "Applies to me". Once reviewed you can click "Done with warnings" and return to your review. 

Warnings are there just to ensure that if the situation applies to you, you can go back and make any necessary modifications.
Errors, on the other hand, will prevent you from filing because something in your return is incorrect and the return will not be accepted by the Canada Revenue Agency.

Thank you for choosing TurboTax.

Foreign capital gains cannot exceed total capital gains what does this warning mean

I get the following during REVIEW:

 

Susanne: The amount of foreign capital gains included in box 52 plus the amounts from boxes 54 and 56 can't be more than the total capital gains in box 52. Additionally, the amount of foreign capital gains included in box 53 plus the amounts from boxes 55 and 57 can't be more than the total capital gains in box 53. Review your entries.

Does this make sense?  I presume there can be negative numbers in some of the boxes, or this makes no sense.  

 

Second point: I have lots of T3's.  TurboTax knows or thinks there is an issue with one of them.   But it does not tell me which one.  Does that make sense?    Do need to go through all the T3's to try to find the error?    Cant Turbo just say "Susanne, please check T3 #12 to blah, blah...".  It's not a game.  Turbo knows something is wrong, but does not tell me?   😪   I have spent hours on this issue.  

 

Third Point: Turbo talks about boxes 52, 54, 56, 53, and 57, but does not show them in the summary.  WTF?  Just tell the customer what T3 slip is problematic.   Sheesh.

Mix1
New Member

Foreign capital gains cannot exceed total capital gains what does this warning mean

This also took me hours.  When you're clicking on box 52 in the T3 slips screen, the popup shows 2 boxes.

Total capital gaines (Box 52) and Foreign cap. gains (incl. in Box 52).  Fill in both boxes with the same amount.

Turbotax want you to enter box 52 twice.🙄

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