topic Which joint owner claims the total interest shown in box 13 of our T5 Statement of Investment Income? in Self-employed https://turbotax.community.intuit.ca/community/self-employed/discussion/which-joint-owner-claims-the-total-interest-shown-in-box-13-of-our-t5-statement-of-investment-income/01/939175#M6494 Thu, 31 Oct 2019 07:46:43 GMT dalewort1 2019-10-31T07:46:43Z Which joint owner claims the total interest shown in box 13 of our T5 Statement of Investment Income? https://turbotax.community.intuit.ca/community/self-employed/discussion/which-joint-owner-claims-the-total-interest-shown-in-box-13-of-our-t5-statement-of-investment-income/01/939175#M6494 Thu, 31 Oct 2019 07:46:43 GMT https://turbotax.community.intuit.ca/community/self-employed/discussion/which-joint-owner-claims-the-total-interest-shown-in-box-13-of-our-t5-statement-of-investment-income/01/939175#M6494 dalewort1 2019-10-31T07:46:43Z According to CRA Attribution rules, what you need to do i... https://turbotax.community.intuit.ca/community/self-employed/discussion/according-to-cra-attribution-rules-what-you-need-to-do-i/01/939176#M6495 <P>According to CRA Attribution rules, what you need to do is determine who&nbsp;<I>contributed</I>&nbsp;to the investment and what percentage. You report the interest earned in the same proportion as the funds that were contributed into the account that earned the income. So if these were "your" funds, then you would claim the income on the T3 &amp; T5 slips 100% in your name.</P><P>You cannot change the amounts strictly for tax advantages, and you should continue to report it with the same percentages each year, as changing this each year can trigger a review and possible reassessment from CRA.&nbsp; Generally spouse's claim 50/50.</P> Thu, 31 Oct 2019 07:46:45 GMT https://turbotax.community.intuit.ca/community/self-employed/discussion/according-to-cra-attribution-rules-what-you-need-to-do-i/01/939176#M6495 TurboTaxKim 2019-10-31T07:46:45Z
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topic Which joint owner claims the total interest shown in box 13 of our T5 Statement of Investment Income? in Self-employed
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https://turbotax.community.intuit.ca/community/self-employed/discussion/which-joint-owner-claims-the-total-interest-shown-in-box-13-of-our-t5-statement-of-investment-income/01/939175#M6494
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Which joint owner claims the total interest shown in box 13 of our T5 Statement of Investment Income?
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According to CRA Attribution rules, what you need to do i...
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<P>According to CRA Attribution rules, what you need to do is determine who&nbsp;<I>contributed</I>&nbsp;to the investment and what percentage. You report the interest earned in the same proportion as the funds that were contributed into the account that earned the income. So if these were "your" funds, then you would claim the income on the T3 &amp; T5 slips 100% in your name.</P><P>You cannot change the amounts strictly for tax advantages, and you should continue to report it with the same percentages each year, as changing this each year can trigger a review and possible reassessment from CRA.&nbsp; Generally spouse's claim 50/50.</P>
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