When filling out New Dispositions for Capital Gains on stock sales do I subtract the commission in the Proceeds of Disposition as done in my TD trade summary or not?

[ktown]

"Proceeds of Disposition" in my T5008/RL-18 does not subtract the trade commission and hence is greater than my "Proceeds" value in TD trade summary. What value to enter for "Proceeds" in each new stock disposition?

[TurboTaxKim · Accepted solution]

You can choose to enter your stock dispositions under the Capital Gains Profile, not as individual T5008 slips.

Here you can enter your Proceeds of Disposition as shown on your trade summary and the commissions as Outlays & Expenses.

"Commissions paid for the purchase or sale of securities are not deductible expenses for tax purposes. Instead, purchase commissions form part of the adjusted cost base (i.e. purchase price) of the investment and sales commissions reduce the proceeds on sale".