Why are capital losses being reported as gains? The system shows it as a "taxable capital gain" on the summary page, when it's a clear loss, according to the cost base.
Why are capital losses being reported as gains? The system shows it as a "taxable capital gain" on the summary page, when it's a clear loss, according to the cost base.
Why are capital losses being reported as gains? The system shows it as a "taxable capital gain" on the summary page, when it's a clear loss, according to the cost base.
Why are capital losses being reported as gains? The system shows it as a "taxable capital gain" on the summary page, when it's a clear loss, according to the cost base.
Seems the problem is with the ACB. You need to calculate the ACB per share existing and multiply that by shares sold and enter that total in the box. That should be clearly stated. I tried total ACB and that didn't work - and I tried ACB per share alone and that didn't work either. Needs to be per share * shares sold.
Add a tooltip on hover or something to it please for those who don't know.
Why are capital losses being reported as gains? The system shows it as a "taxable capital gain" on the summary page, when it's a clear loss, according to the cost base.
The Adjusted Cost Base (ACB) is a "calculation" not performed by the software. The screen in which you input the figures is the same as the CRA Schedule 3, which you also must make the calculation manually to arrive at your ACB.
I'll pass your suggestion on to the team to add a tip or hover to this section explaining that a little better, thanks for your input!
‎October 30, 20197:13 PM
You are leaving TurboTax.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
