How do I declare captial gains for shares purchased in 2018 and sold in 2020? Am I eligible for any tax credits?

[thakar88]

Thank you for choosing TurboTax.

Follow the below steps to report capital gain.

•  At the top of the page, you will see the "find" button click it and find "Capital Gain and Capital Gain Deduction profile".
•  You need to select the first options as you sold stocks and continue.
•  In the first line, you will select "Mutual funds/publicly traded shares/stocks".
•  Complete the second line for spousal percentage in case you have a joint account.
•  In the 3rd line, you need to write the number of shares or face value.
•  In the 4th line type the name of your brokerage.
•  5th line leaves blank in your case.
• In the 6th line enter a year when you purchased the share.
•  In the 7th line enter a day and month of the year 2020 when you sold those stocks.
•  In the 8th line enter the selling price of the stocks
• In the 9th line enter the purchase price of stocks
• In the 10th line enter brokerage charge for both purchase and sale of stocks.
• The Last line leaves blank and clicks to continue. On the next page, you will see a capital gain or loss.

Here is a great link from CRA about tax credits

Personal Income Tax Deductions in Canada from TurboTax.

Let us know if you need more help through social media. 

http://www.facebook.com/TurboTaxCanada

https://twitter.com/turbotaxcanada