If you've received a T5008 slip or Statement, you may be missing information. You'll want to obtain and enter as much information as you can in regards to this sale, so you are not paying tax on the entire disposition and sell.
The Proceeds of Disposition ( box 21 of slip) have most likely been entered, but the Adjusted Cost Base (box 20 of slip), may be blank. Many issuers of these report only the proceeds because they don’t know your ACB. It’s your responsibility to track your ACB and enter the correct amount. If you aren’t sure, contact your advisor or broker.
To enter your Dispositions or Sells in TurboTax Online:
Go to the "Income" tab > "Investments" > "Capital Gains & Capital Gains Deduction Profile". Check the first box "Sold stocks, bonds, real estate, other capital property....". Then proceed to provide the required information, selecting "Mutual funds/publicly traded shares/stocks" as the Type of Capital Property disposed of.
If you've received a T5008 slip or Statement, you may be missing information. You'll want to obtain and enter as much information as you can in regards to this sale, so you are not paying tax on the entire disposition and sell.
The Proceeds of Disposition ( box 21 of slip) have most likely been entered, but the Adjusted Cost Base (box 20 of slip), may be blank. Many issuers of these report only the proceeds because they don’t know your ACB. It’s your responsibility to track your ACB and enter the correct amount. If you aren’t sure, contact your advisor or broker.
To enter your Dispositions or Sells in TurboTax Online:
Go to the "Income" tab > "Investments" > "Capital Gains & Capital Gains Deduction Profile". Check the first box "Sold stocks, bonds, real estate, other capital property....". Then proceed to provide the required information, selecting "Mutual funds/publicly traded shares/stocks" as the Type of Capital Property disposed of.