☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 30, 2019 10:07:32 PM

Can we split T5008 gains unevenly (e.g. 20% and 80%)?

Our mutual funds that have been sold are joint.

0 1 761
1 Best answer
Level 13
Oct 30, 2019 10:07:34 PM

Yes, you can, you apply the percentage of ownership for each partner.

This is used in calculating the net investment income or capital gain/loss. For capital types of income, this is transferred to Form S3 SUPP, Schedule 3 Supplemental Statement and Schedule 3, Capital Gains or Losses under Proceeds of Disposition.


From TurboTax FAQ on how to enter a T5008 - https://turbotax.community.intuit.ca/replies/2647749

1 Replies
Level 13
Oct 30, 2019 10:07:34 PM

Yes, you can, you apply the percentage of ownership for each partner.

This is used in calculating the net investment income or capital gain/loss. For capital types of income, this is transferred to Form S3 SUPP, Schedule 3 Supplemental Statement and Schedule 3, Capital Gains or Losses under Proceeds of Disposition.


From TurboTax FAQ on how to enter a T5008 - https://turbotax.community.intuit.ca/replies/2647749