topic capital gains/losses not getting calculated from T5008 data in Investors and rental owners

capital gains/losses not getting calculated from T5008 data

HatchS — Sun, 13 Apr 2025 03:59:16 GMT

why is the turbotax software not calculating capital gains/losses from the T-slips entered (ex. T5008 data entered in the software)?

Re: capital gains/losses not getting calculated from T5008 data

TurboTax_Susan — Sun, 13 Apr 2025 17:50:46 GMT

Please check that you have selected a "Type Of Income" & entered a date of disposition on your T5008 slips.

Re: capital gains/losses not getting calculated from T5008 data

HatchS — Sun, 13 Apr 2025 21:49:11 GMT

I have ensured that all settings in TurboTax are correct, including designating the transactions as capital gains and entering the correct disposition dates. However, despite spending 1.5 hours on a call with TurboTax support last night, the issue remains unresolved, and they were unable to provide a solution. Given the cost of the software, I am disappointed that I am unable to access prompt and expert assistance to resolve this technical issue.

Re: capital gains/losses not getting calculated from T5008 data

moojie72 — Mon, 14 Apr 2025 19:38:15 GMT

HatchS, I had the same issue with the T5008 as you are having. I spent 2 hours on the phone with no resolution. I went back to the T5008 slip and blanked out Box 15 and the "type of income" box, I had Investment and changed it to Capital Gains and the information transferred to the tax return. I hope this helps you out!!

Re: capital gains/losses not getting calculated from T5008 data

HatchS — Tue, 15 Apr 2025 16:14:42 GMT

Thanks moojie72.

I'm pleased to hear that you found a workaround. I took a different approach by removing all my T5008 forms from the tax return and manually entering each security under the Capital Gains section. While this method was quite inefficient, it ultimately worked. However, it is disappointing that TurboTax was unable to provide a more effective solution. Given the time and effort required, it feels as though TurboTax should be compensating users for the inconvenience.