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T3 Box 21 Capital Gains, I get warning that "Foreign capital Gains cannot exceed your total capital gains".

 
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T3 Box 21 Capital Gains, I get warning that "Foreign capital Gains cannot exceed your total capital gains".

  • If you have "Foreign Capital Gains in Box 21 of your T3, you must enter the amount "twice" in order to remove that warning. Enter as "Foreign Capital Gains" and again as "Total Capital Gains". If you have two T3 slips, you must enter each slip individually. 
  • If you also have a T5008 slip, you need to report that separately. There is different information on the slips, although it would appear they relate to the same investment.

The T3 slip shows capital gains at the fund level based on your fund manager buying and selling. (or activity in account).
The T5008 or December 31st account statement shows capital gains based on YOUR buys and sells. (usually only received when you sell or cash out).
And you should be reporting both when filing your income taxes

 

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cnn7272
New Member

T3 Box 21 Capital Gains, I get warning that "Foreign capital Gains cannot exceed your total capital gains".

This response was very helpful!! thank you.