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New Member
posted Oct 30, 2019 8:21:28 AM

T5008 Capital Gains?

I've filled out all my transactions as T5008 entries. Do I have to fill these out again in the Capital Gains/Losses section? I would've thought TurboTax will calculate my Capital Gains/Losses from the T5008 info already entered.

0 2 2041
2 Replies
Level 2
Oct 30, 2019 8:21:29 AM

On the T5008 bottom left there is a pull down menu type of transaction. You can click on the one "capital gain" and it sill put the data in Schedule 3. Unfortunately you will have to do this for every item you have entered. You would have thought Turbo Tax would have made this the default but they did not. 

Returning Member
May 4, 2021 11:32:49 AM

TurboTax should have the T-5008's imported from CRA being auto-filled with the default 'capital gain' prepopulated, OR allow a global change. I have over 300 investment gains being reported and it seems like  have to go the drop down menu on each, and manually select 'capital gain'. I attempted to skip this time consuming task but TurboTax will not allow you to Netfile as it shows up as an error. 

Very poor feature. Not impressed with this at all.