Taxable capital gains should be split between my wife and I but it is showing 100% amount for both of us.

[KindaS0rta]

Ignore my previous comment...I figured out my issue and I don't think it's the same as yours after all. I will say that this is extra confusing when the spousal split and the tax inclusion rate are both 50%.

[TurboTaxBrenda1]

The answer to the question of whether or not you can split your capital gain with your spouse depends on whether or not you shared in the purchase of the investment in the first place and how much your spouse contributed. Can I Split My Capital Gain With My Spouse?

Thank you for choosing TurboTax.

[mattrrr]

What proof is required by CRA to demonstrate that both spouses contributed to an investment.  Let's say that I handle most of the investing from my account, but my spouse takes an equal amount of money to fund household expenses.  It is all part of one shared pool and allocated for efficiency, but does not demonstrate direct link between the spouses funds and the investment.

[TurboTaxSusan]

@mattrrr If your spouse contributed to the investment their would a record of wither them directly depositing money into the investment account, or them transfering money to you so you can invest it on their behalf.  

[hazelwoodjack]

I am doing my 2024 tax on turbo Tax and enter a T3 and put in the 50% split with my spouse at the bottom of the page however the Capitol gains from the T3 are not shared 50/50. The full amount is attributed to me.

[TurboTaxSusan]

@hazelwoodjack This issue is being worked on by our development team.

As a workaround, you can enter the T3 on both spouse's return but manually calculate the split and set the "Your Percentage" value to 100% for each. The "Your Percentage" value just tells TurboTax to do the split, it's not transmitted to the CRA.

 

[pxxzz]

Any idea when this problem will be corrected?  Your "workaround" is a lot of work for couples with many T3 slips.  Clearly entering a percentage split for the spouses is not transmitting the split to TurboTax's calculations for T3 capital gains.  I wonder how this can even be a new problem?

[SMH56]

Yes, I share the same complaint.  Interesting that the allocation split worked fine in lasts year's 2023 TurboTax.  Now it only works for Interest income, Dividend income BUT not for Capital Gains reported on the T3.  When is this issue going to be addressed?

[TurboTaxAniqua]

@pxxzz Thank you for the feedback. We are aware of this issue, and our development team is working on a resolution. We are hoping this can be resolved quickly. Once it is resolved, we will update you in this thread. We appreciate your patience.