topic Where do I report the loss on a short sale of stocks? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-do-i-report-the-loss-on-a-short-sale-of-stocks/01/886936#M516 CRA says the loss on a short sale is to be reported on the income account, yet I cannot enter a negative number on your "Investment and Other Income" line. Thanks Wed, 30 Oct 2019 04:15:18 GMT b-kiz 2019-10-30T04:15:18Z Where do I report the loss on a short sale of stocks? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-do-i-report-the-loss-on-a-short-sale-of-stocks/01/886936#M516 CRA says the loss on a short sale is to be reported on the income account, yet I cannot enter a negative number on your "Investment and Other Income" line. Thanks Wed, 30 Oct 2019 04:15:18 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-do-i-report-the-loss-on-a-short-sale-of-stocks/01/886936#M516 b-kiz 2019-10-30T04:15:18Z Neither of the answers below is correct. Gains and losses... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/neither-of-the-answers-below-is-correct-gains-and-losses/01/886937#M517 Neither of the answers below is correct. Gains and losses from short selling stock is not reported by a T5 or a T3 slip. CRA interpretation bulletins say that gains or losses from short selling securities are to be reported on the income account, not the capital gains account. Therefore the gains or losses from short selling stocks should be reported on Line 121 "Interest and Other Investment Income". However in the case of a loss due to short selling, Turbotax does not let me enter a negative number on line 121. Please advise further. Thank you Wed, 30 Oct 2019 04:15:19 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/neither-of-the-answers-below-is-correct-gains-and-losses/01/886937#M517 b-kiz 2019-10-30T04:15:19Z Please note that your entry should be on line 221, this a... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/please-note-that-your-entry-should-be-on-line-221-this-a/01/886939#M518 Please note that your entry should be on line 221, this amount should be a positive amount that will reduce your income which&nbsp;&nbsp;will reflect on your T1 as well as schedule 4. Wed, 30 Oct 2019 04:15:21 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/please-note-that-your-entry-should-be-on-line-221-this-a/01/886939#M518 Martine-TurboTax 2019-10-30T04:15:21Z @Martine@TurboTax I spoke with CRA agent 01825PRA today w... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-i-spoke-with-cra-agent-01825pra-today-w/01/886941#M519 <A href="https://turbotax.community.intuit.ca/users/38da3d87-fb10-41df-85ef-fcda4aaa6c17" rel="nofollow" target="_blank">@Martine@TurboTax</A> I spoke with CRA agent 01825PRA today who advised me that the loss from a short-sale of securities should be reported on Line 130 as "Other Income". This is confirmed by CRA Interpretation Bulletin IT-479R #18 which sales the gain or loss from a short sale is considered to be on the income account.<BR />However TurboTax does not let me enter a negative number on the Other Income page, for Line 130. Please advise how to enter this. The CRA agent confirmed that reporting the loss will be disallowed under Line 121 or Line 221. Thank you Wed, 30 Oct 2019 04:15:22 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-i-spoke-with-cra-agent-01825pra-today-w/01/886941#M519 b-kiz 2019-10-30T04:15:22Z @Martine@TurboTax by your silence I take it that TurboTax... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-by-your-silence-i-take-it-that-turbotax/01/886942#M520 <A href="https://turbotax.community.intuit.ca/users/38da3d87-fb10-41df-85ef-fcda4aaa6c17" rel="nofollow" target="_blank">@Martine@TurboTax</A> by your silence I take it that TurboTax is unable to meet my needs? Please let me know either way so that I can get on with filing a paper report if necessary. Thank you Wed, 30 Oct 2019 04:15:23 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-by-your-silence-i-take-it-that-turbotax/01/886942#M520 b-kiz 2019-10-30T04:15:23Z Your entries as I mentioned earlier should reflect  on sc... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/your-entries-as-i-mentioned-earlier-should-reflect-on-sc/01/886944#M521 Your entries as I mentioned earlier should reflect&nbsp;&nbsp;on schedule 4 however if this isn’t working kindly call an agent there maybe an issue that we can take a further look.<BR /><BR />Please call us by clicking the following link to the Contact Us page. Then complete the required information. A phone number will appear, along with your incident ID. Call the number. This will ensure that an appropriate agent is assigned to your query:<BR /><A rel="nofollow" target="_blank" href="https://support.turbotax.intuit.ca/contact/">https://support.turbotax.intuit.ca/contact/</A><BR /><BR />An Agent is standing by<BR /><BR />Martine@TurboTax Wed, 30 Oct 2019 04:15:25 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/your-entries-as-i-mentioned-earlier-should-reflect-on-sc/01/886944#M521 Martine-TurboTax 2019-10-30T04:15:25Z Did you ever figure this out? I need to know where to rep... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/did-you-ever-figure-this-out-i-need-to-know-where-to-rep/01/886946#M522 Did you ever figure this out? I need to know where to report my loss from shorting stocks Wed, 30 Oct 2019 04:15:26 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/did-you-ever-figure-this-out-i-need-to-know-where-to-rep/01/886946#M522 bechard04 2019-10-30T04:15:26Z Good afternoon Please click on this link it will give y... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/good-afternoon-please-click-on-this-link-it-will-give-y/01/886948#M523 <P>Good afternoon</P><P> <BR /> </P><P>Please click on this link it will give you some in site on how to proceed with your loss and how to report it.</P><P> <A href="https://turbotax.community.intuit.ca/questions/1190196-t5-statement-of-investment-income" rel="nofollow" target="_blank">https://turbotax.community.intuit.ca/questions/1190196-t5-statement-of-investment-income</A> </P><P> <BR /> </P><P> <A href="https://turbotax.community.intuit.ca/questions/1189828-t3-statement-of-trust-income-allocations-and-designations" rel="nofollow" target="_blank">https://turbotax.community.intuit.ca/questions/1189828-t3-statement-of-trust-income-allocations-and-...</A> <BR /> </P><BR /><BR /> Wed, 30 Oct 2019 04:15:28 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/good-afternoon-please-click-on-this-link-it-will-give-y/01/886948#M523 Martine-TurboTax 2019-10-30T04:15:28Z @Martine@TurboTax Neither of the answers here are correct... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-neither-of-the-answers-here-are-correct/01/886950#M524 <A href="https://turbotax.community.intuit.ca/users/38da3d87-fb10-41df-85ef-fcda4aaa6c17" rel="nofollow" target="_blank">@Martine@TurboTax</A> Neither of the answers here are correct. Gains and losses from short selling stock is not reported by a T5 or a T3 slip. CRA interpretation bulletins say that gains or losses from short selling securities are to be reported on the income account, not the capital gains account. Therefore the gains or losses from short selling stocks should be reported on Line 121 "Interest and Other Investment Income". However in the case of a loss due to short selling, Turbotax does not let me enter a negative number on line 121. Please advise further. Thank you Wed, 30 Oct 2019 04:15:29 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-neither-of-the-answers-here-are-correct/01/886950#M524 b-kiz 2019-10-30T04:15:29Z
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topic Where do I report the loss on a short sale of stocks? in Investors and rental owners
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-do-i-report-the-loss-on-a-short-sale-of-stocks/01/886936#M516
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CRA says the loss on a short sale is to be reported on the income account, yet I cannot enter a negative number on your "Investment and Other Income" line. Thanks
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<pubDate>Wed, 30 Oct 2019 04:15:18 GMT</pubDate>
<dc:creator>b-kiz</dc:creator>
<dc:date>2019-10-30T04:15:18Z</dc:date>
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Where do I report the loss on a short sale of stocks?
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-do-i-report-the-loss-on-a-short-sale-of-stocks/01/886936#M516
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CRA says the loss on a short sale is to be reported on the income account, yet I cannot enter a negative number on your "Investment and Other Income" line. Thanks
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Neither of the answers below is correct. Gains and losses...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/neither-of-the-answers-below-is-correct-gains-and-losses/01/886937#M517
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Neither of the answers below is correct. Gains and losses from short selling stock is not reported by a T5 or a T3 slip. CRA interpretation bulletins say that gains or losses from short selling securities are to be reported on the income account, not the capital gains account. Therefore the gains or losses from short selling stocks should be reported on Line 121 "Interest and Other Investment Income". However in the case of a loss due to short selling, Turbotax does not let me enter a negative number on line 121. Please advise further. Thank you
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<pubDate>Wed, 30 Oct 2019 04:15:19 GMT</pubDate>
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<dc:date>2019-10-30T04:15:19Z</dc:date>
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Please note that your entry should be on line 221, this a...
</title>
<link>
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/please-note-that-your-entry-should-be-on-line-221-this-a/01/886939#M518
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Please note that your entry should be on line 221, this amount should be a positive amount that will reduce your income which&nbsp;&nbsp;will reflect on your T1 as well as schedule 4.
</description>
<pubDate>Wed, 30 Oct 2019 04:15:21 GMT</pubDate>
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<dc:creator>Martine-TurboTax</dc:creator>
<dc:date>2019-10-30T04:15:21Z</dc:date>
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@Martine@TurboTax I spoke with CRA agent 01825PRA today w...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-i-spoke-with-cra-agent-01825pra-today-w/01/886941#M519
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<A href="https://turbotax.community.intuit.ca/users/38da3d87-fb10-41df-85ef-fcda4aaa6c17" rel="nofollow" target="_blank">@Martine@TurboTax</A> I spoke with CRA agent 01825PRA today who advised me that the loss from a short-sale of securities should be reported on Line 130 as "Other Income". This is confirmed by CRA Interpretation Bulletin IT-479R #18 which sales the gain or loss from a short sale is considered to be on the income account.<BR />However TurboTax does not let me enter a negative number on the Other Income page, for Line 130. Please advise how to enter this. The CRA agent confirmed that reporting the loss will be disallowed under Line 121 or Line 221. Thank you
</description>
<pubDate>Wed, 30 Oct 2019 04:15:22 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-i-spoke-with-cra-agent-01825pra-today-w/01/886941#M519
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<dc:creator>b-kiz</dc:creator>
<dc:date>2019-10-30T04:15:22Z</dc:date>
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@Martine@TurboTax by your silence I take it that TurboTax...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-by-your-silence-i-take-it-that-turbotax/01/886942#M520
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<A href="https://turbotax.community.intuit.ca/users/38da3d87-fb10-41df-85ef-fcda4aaa6c17" rel="nofollow" target="_blank">@Martine@TurboTax</A> by your silence I take it that TurboTax is unable to meet my needs? Please let me know either way so that I can get on with filing a paper report if necessary. Thank you
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<pubDate>Wed, 30 Oct 2019 04:15:23 GMT</pubDate>
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<dc:date>2019-10-30T04:15:23Z</dc:date>
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Your entries as I mentioned earlier should reflect  on sc...
</title>
<link>
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/your-entries-as-i-mentioned-earlier-should-reflect-on-sc/01/886944#M521
</link>
<description>
Your entries as I mentioned earlier should reflect&nbsp;&nbsp;on schedule 4 however if this isn’t working kindly call an agent there maybe an issue that we can take a further look.<BR /><BR />Please call us by clicking the following link to the Contact Us page. Then complete the required information. A phone number will appear, along with your incident ID. Call the number. This will ensure that an appropriate agent is assigned to your query:<BR /><A rel="nofollow" target="_blank" href="https://support.turbotax.intuit.ca/contact/">https://support.turbotax.intuit.ca/contact/</A><BR /><BR />An Agent is standing by<BR /><BR />Martine@TurboTax
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<pubDate>Wed, 30 Oct 2019 04:15:25 GMT</pubDate>
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/your-entries-as-i-mentioned-earlier-should-reflect-on-sc/01/886944#M521
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<dc:creator>Martine-TurboTax</dc:creator>
<dc:date>2019-10-30T04:15:25Z</dc:date>
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Did you ever figure this out? I need to know where to rep...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/did-you-ever-figure-this-out-i-need-to-know-where-to-rep/01/886946#M522
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Did you ever figure this out? I need to know where to report my loss from shorting stocks
</description>
<pubDate>Wed, 30 Oct 2019 04:15:26 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/did-you-ever-figure-this-out-i-need-to-know-where-to-rep/01/886946#M522
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<dc:date>2019-10-30T04:15:26Z</dc:date>
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Good afternoon Please click on this link it will give y...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/good-afternoon-please-click-on-this-link-it-will-give-y/01/886948#M523
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<P>Good afternoon</P><P> <BR /> </P><P>Please click on this link it will give you some in site on how to proceed with your loss and how to report it.</P><P> <A href="https://turbotax.community.intuit.ca/questions/1190196-t5-statement-of-investment-income" rel="nofollow" target="_blank">https://turbotax.community.intuit.ca/questions/1190196-t5-statement-of-investment-income</A> </P><P> <BR /> </P><P> <A href="https://turbotax.community.intuit.ca/questions/1189828-t3-statement-of-trust-income-allocations-and-designations" rel="nofollow" target="_blank">https://turbotax.community.intuit.ca/questions/1189828-t3-statement-of-trust-income-allocations-and-...</A> <BR /> </P><BR /><BR />
</description>
<pubDate>Wed, 30 Oct 2019 04:15:28 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/good-afternoon-please-click-on-this-link-it-will-give-y/01/886948#M523
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<dc:creator>Martine-TurboTax</dc:creator>
<dc:date>2019-10-30T04:15:28Z</dc:date>
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<item>
<title>
@Martine@TurboTax Neither of the answers here are correct...
</title>
<link>
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-neither-of-the-answers-here-are-correct/01/886950#M524
</link>
<description>
<A href="https://turbotax.community.intuit.ca/users/38da3d87-fb10-41df-85ef-fcda4aaa6c17" rel="nofollow" target="_blank">@Martine@TurboTax</A> Neither of the answers here are correct. Gains and losses from short selling stock is not reported by a T5 or a T3 slip. CRA interpretation bulletins say that gains or losses from short selling securities are to be reported on the income account, not the capital gains account. Therefore the gains or losses from short selling stocks should be reported on Line 121 "Interest and Other Investment Income". However in the case of a loss due to short selling, Turbotax does not let me enter a negative number on line 121. Please advise further. Thank you
</description>
<pubDate>Wed, 30 Oct 2019 04:15:29 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/martine-turbotax-neither-of-the-answers-here-are-correct/01/886950#M524
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<dc:creator>b-kiz</dc:creator>
<dc:date>2019-10-30T04:15:29Z</dc:date>
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