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Level 1

Should info in t5008 calulate loss/gain

how can I audit Schedule 3

1 Best answer

Accepted Solutions
Level 1

Should info in t5008 calulate loss/gain

You can not edit the Schedule 3 form itself, so you need to enter your T5008 slips and likely "add" some information to them, such as Box 20 - Cost or Book Value. If your slips are already added to your return, you'll need to "Edit" each T5008 slip from the T5008 Summary page to add your Box 20 amounts. 

When you are looking at the T5008 Summary page, what you will see are the amounts from Box 21 of the T5008 slip only. The actual capital gain/loss is not seen on this page.

After completing all your entries, if you have a Capital Gain, you will see it on Line 127 of the Detailed Tax Summary. Capital Losses are not seen on the current year's tax return. 

You can also see these entries after you pay for your return (even the Free version must go through the payment process) on the PDF view of the T1 General.

1 Reply
Level 1

Should info in t5008 calulate loss/gain

You can not edit the Schedule 3 form itself, so you need to enter your T5008 slips and likely "add" some information to them, such as Box 20 - Cost or Book Value. If your slips are already added to your return, you'll need to "Edit" each T5008 slip from the T5008 Summary page to add your Box 20 amounts. 

When you are looking at the T5008 Summary page, what you will see are the amounts from Box 21 of the T5008 slip only. The actual capital gain/loss is not seen on this page.

After completing all your entries, if you have a Capital Gain, you will see it on Line 127 of the Detailed Tax Summary. Capital Losses are not seen on the current year's tax return. 

You can also see these entries after you pay for your return (even the Free version must go through the payment process) on the PDF view of the T1 General.