Double counting security options deduction

Netstar — Sun, 23 Mar 2025 20:07:20 GMT

I have stock options earnings listed in Box 38 on the T4. The amount listed by my company in box 14 of the T4 (Employment income) already excludes the non-taxable portion of these stock earnings.

Turbotax is re-applying the capital gains deduction on line 24900 of my income tax statement even though it was already excluded from my T4 income. Therefore, it looks like I am getting double credit for the capital gains deduction. My calculated income and resulting taxes is therefore much lower than what it appears it should be.

Is there a flag within the Easystep wizard not to re-apply the deduction? I know I can change it on the Form view but I'd like the program to account for it.

Re: Double counting security options deduction

TurboTaxAniqua — Tue, 25 Mar 2025 15:59:19 GMT

If you have it listed on T4, make sure to clear the Schedule 3 to avoid any double entries.

topic Re: Double counting security options deduction in Credits and deductions

Double counting security options deduction

Re: Double counting security options deduction