My T5008 does not specify if it is investment or Capital Gains. It only has type 4 in box 11. What should it be for?

[TurboTaxSusan · Accepted solution]

Investment income is usually something like interest, ex: you own a bond and you get paid a small amount regularly as long as you own it.

Capital Gains/Losses occur when you sell something, ex: you sold some shares or a building. https://turbotax.community.intuit.ca/replies/2647660

On a T5008, box 11 Indicates the Recipient type.

1 = individual

2 = joint account

3 = corporation

4 = other, e.g., association, trust (fiduciary-trustee, nominee, or estate), club, or partnership.

[Paul133]

How can I do this Investment on the T5008 I have to enter investments over a 150 times can't you do this once

[John___D]

Would love to hear a response from Intuit about this.    I've complained for several years.   There's no way to call them.   It's totally ridiculous to have to enter each of hundreds of items as separate T5008 slips!   Investment organizations do not need to create individual T5008's.   They simply print a statement that lists all the transactions.   There needs to be an import function in TurboTax that does this in bulk.      Added to that, there is no indication on the T5008 report from investment organizations that indicates "Investment" or "Capital Gains".   Yet Turbotax insists this is selected for each item.    TurboTax...if you're reading...T5008 entry is a total friggin disaster!  

[TurboTaxBrenda1]

You can ask your broker for a consolidated T5008 to facilitate your entries. Downloading an app specifically for high level trading that calculates your multiple slips and allows you to make one entry may be beneficial.If further guidance is needed, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help you. To contact them, please follow this link: Contact Us.

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