topic Do I have to report US securities (Gain/Losses) in a T5008 or T1135? in Getting started https://turbotax.community.intuit.ca/community/getting-started/discussion/do-i-have-to-report-us-securities-gain-losses-in-a-t5008-or-t1135/01/935849#M13108 <P>My Bank/Broker transmitted to CRA bad T5008 (No cost added).&nbsp; CAD and US transaction are together in the other hand the T1135 has all US transactions.</P><P>Do I have to remove US transaction form T5008 and leave US only in T1135?</P><P>I don want US appears twice.</P> Thu, 31 Oct 2019 05:51:25 GMT chicaro59 2019-10-31T05:51:25Z Do I have to report US securities (Gain/Losses) in a T5008 or T1135? https://turbotax.community.intuit.ca/community/getting-started/discussion/do-i-have-to-report-us-securities-gain-losses-in-a-t5008-or-t1135/01/935849#M13108 <P>My Bank/Broker transmitted to CRA bad T5008 (No cost added).&nbsp; CAD and US transaction are together in the other hand the T1135 has all US transactions.</P><P>Do I have to remove US transaction form T5008 and leave US only in T1135?</P><P>I don want US appears twice.</P> Thu, 31 Oct 2019 05:51:25 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/do-i-have-to-report-us-securities-gain-losses-in-a-t5008-or-t1135/01/935849#M13108 chicaro59 2019-10-31T05:51:25Z First of all, you should receive a separate T5008 for eac... https://turbotax.community.intuit.ca/community/getting-started/discussion/first-of-all-you-should-receive-a-separate-t5008-for-eac/01/935850#M13109 <P>First of all, you should receive a separate T5008 for each CAD securites and USD/foreign securities&nbsp;</P><P>T5008 shows no cost, the cost base information is from your record or from bank/broker statement</P><P>T1135 is&nbsp; Foreign Income Verification Statement, therefore should not include CAD securities, and you only need to report it if your total cost for all your foreign securities is higher then 100,000&nbsp;<BR /> </P> Thu, 31 Oct 2019 05:51:27 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/first-of-all-you-should-receive-a-separate-t5008-for-eac/01/935850#M13109 ddhyy61 2019-10-31T05:51:27Z Re: First of all, you should receive a separate T5008 for eac... https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1398988#M18317 <P>I received two, the T5008 and the Foreign Income Verification statement. &nbsp;On the T5008 one stock was liquidated with a Canadian loss and does not show up in Turbo Tax when coming from the bank. &nbsp;The other Income Verification Statement shows the same stock sold with a loss. &nbsp;How where is this reported? &nbsp;Thanks,</P> Fri, 03 Apr 2020 00:05:21 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1398988#M18317 scofenn 2020-04-03T00:05:21Z Re: First of all, you should receive a separate T5008 for eac... https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1402253#M18337 <P>T5008 reports income from different sources. So you should get slips for the Canadian sources and different slips for the US stocks. The Bank or the Financial Institution&nbsp;should indicate the currency and the country on the T5008 slip. If it is not in Canadian dollars then you should convert it or choose the right currency.</P> <P>&nbsp;</P> <P>Some T5008s sent from the financial institutions to CRA are missing Box 20 for the cost value. You should obtain this information personally from your broker, and update it manually.</P> <P>&nbsp;</P> <P>When you transfer the data to your return by AFR (Auto-Fill My Return), the information is imported from CRA not from the Financial institution. If the Broker doesn't send all the T5008s to CRA in time, they will not be available for AFR, which means you will have to obtain this information from the slips sent to you from your broker.&nbsp;</P> <P>&nbsp;</P> <P>The only time you need to file a T1135 form for Foreign Income Verification is when the cost value of the fund where the T5008 slips came from is $100,000 CAD or more. If the income is reported in the T5008, you will not need to report them again, just file the T1135 for foreign income verification statement. The statement doesn't add the income to the return again.&nbsp;</P> <P>If you have more Foreign Capital-Gain or Investment income that has not been reported in a T5008 from a foreign income source, then you will need to report a Foreign Income source --&gt; you will find it through the search engine in the top bar.&nbsp;</P> <P>&nbsp;</P> <P>I hope this was helpful</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> Fri, 03 Apr 2020 19:31:53 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1402253#M18337 TurboTaxHeba 2020-04-03T19:31:53Z Re: First of all, you should receive a separate T5008 for eac... https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1582231#M19477 <P>Greetings;&nbsp;</P><P>&nbsp;</P><P>Your instructions are "mostly" helpful - however</P><P>&nbsp;</P><P>I have T5008 which have already reported a capital gain, following which the Foreign Income Report (T1135) also identifies a gain of similar amount.&nbsp;&nbsp;</P><P>&nbsp;</P><P>In the software adding the T1135 data to the foreign income area under capital gain/loss appears to account for the gain twice in calculation.&nbsp;</P><P>&nbsp;</P><P>I understand the need to have a foreign income slip - but should I not only be counting any gains in one location?</P><P>&nbsp;</P><P>&nbsp;</P> Mon, 11 May 2020 21:29:14 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1582231#M19477 jeffg3 2020-05-11T21:29:14Z
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topic Do I have to report US securities (Gain/Losses) in a T5008 or T1135? in Getting started
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https://turbotax.community.intuit.ca/community/getting-started/discussion/do-i-have-to-report-us-securities-gain-losses-in-a-t5008-or-t1135/01/935849#M13108
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<P>My Bank/Broker transmitted to CRA bad T5008 (No cost added).&nbsp; CAD and US transaction are together in the other hand the T1135 has all US transactions.</P><P>Do I have to remove US transaction form T5008 and leave US only in T1135?</P><P>I don want US appears twice.</P>
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Do I have to report US securities (Gain/Losses) in a T5008 or T1135?
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https://turbotax.community.intuit.ca/community/getting-started/discussion/do-i-have-to-report-us-securities-gain-losses-in-a-t5008-or-t1135/01/935849#M13108
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<P>My Bank/Broker transmitted to CRA bad T5008 (No cost added).&nbsp; CAD and US transaction are together in the other hand the T1135 has all US transactions.</P><P>Do I have to remove US transaction form T5008 and leave US only in T1135?</P><P>I don want US appears twice.</P>
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First of all, you should receive a separate T5008 for eac...
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https://turbotax.community.intuit.ca/community/getting-started/discussion/first-of-all-you-should-receive-a-separate-t5008-for-eac/01/935850#M13109
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<P>First of all, you should receive a separate T5008 for each CAD securites and USD/foreign securities&nbsp;</P><P>T5008 shows no cost, the cost base information is from your record or from bank/broker statement</P><P>T1135 is&nbsp; Foreign Income Verification Statement, therefore should not include CAD securities, and you only need to report it if your total cost for all your foreign securities is higher then 100,000&nbsp;<BR /> </P>
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<pubDate>Thu, 31 Oct 2019 05:51:27 GMT</pubDate>
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<dc:creator>ddhyy61</dc:creator>
<dc:date>2019-10-31T05:51:27Z</dc:date>
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Re: First of all, you should receive a separate T5008 for eac...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1398988#M18317
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<P>I received two, the T5008 and the Foreign Income Verification statement. &nbsp;On the T5008 one stock was liquidated with a Canadian loss and does not show up in Turbo Tax when coming from the bank. &nbsp;The other Income Verification Statement shows the same stock sold with a loss. &nbsp;How where is this reported? &nbsp;Thanks,</P>
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<pubDate>Fri, 03 Apr 2020 00:05:21 GMT</pubDate>
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<dc:date>2020-04-03T00:05:21Z</dc:date>
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Re: First of all, you should receive a separate T5008 for eac...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1402253#M18337
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<P>T5008 reports income from different sources. So you should get slips for the Canadian sources and different slips for the US stocks. The Bank or the Financial Institution&nbsp;should indicate the currency and the country on the T5008 slip. If it is not in Canadian dollars then you should convert it or choose the right currency.</P> <P>&nbsp;</P> <P>Some T5008s sent from the financial institutions to CRA are missing Box 20 for the cost value. You should obtain this information personally from your broker, and update it manually.</P> <P>&nbsp;</P> <P>When you transfer the data to your return by AFR (Auto-Fill My Return), the information is imported from CRA not from the Financial institution. If the Broker doesn't send all the T5008s to CRA in time, they will not be available for AFR, which means you will have to obtain this information from the slips sent to you from your broker.&nbsp;</P> <P>&nbsp;</P> <P>The only time you need to file a T1135 form for Foreign Income Verification is when the cost value of the fund where the T5008 slips came from is $100,000 CAD or more. If the income is reported in the T5008, you will not need to report them again, just file the T1135 for foreign income verification statement. The statement doesn't add the income to the return again.&nbsp;</P> <P>If you have more Foreign Capital-Gain or Investment income that has not been reported in a T5008 from a foreign income source, then you will need to report a Foreign Income source --&gt; you will find it through the search engine in the top bar.&nbsp;</P> <P>&nbsp;</P> <P>I hope this was helpful</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P>
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<pubDate>Fri, 03 Apr 2020 19:31:53 GMT</pubDate>
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<dc:creator>TurboTaxHeba</dc:creator>
<dc:date>2020-04-03T19:31:53Z</dc:date>
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Re: First of all, you should receive a separate T5008 for eac...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1582231#M19477
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<P>Greetings;&nbsp;</P><P>&nbsp;</P><P>Your instructions are "mostly" helpful - however</P><P>&nbsp;</P><P>I have T5008 which have already reported a capital gain, following which the Foreign Income Report (T1135) also identifies a gain of similar amount.&nbsp;&nbsp;</P><P>&nbsp;</P><P>In the software adding the T1135 data to the foreign income area under capital gain/loss appears to account for the gain twice in calculation.&nbsp;</P><P>&nbsp;</P><P>I understand the need to have a foreign income slip - but should I not only be counting any gains in one location?</P><P>&nbsp;</P><P>&nbsp;</P>
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<pubDate>Mon, 11 May 2020 21:29:14 GMT</pubDate>
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https://turbotax.community.intuit.ca/community/getting-started/discussion/re-first-of-all-you-should-receive-a-separate-t5008-for-eac/01/1582231#M19477
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