Form T5008 Box 16 asks for a quantity, why does TurboTax respond with error message "Please enter a dollar value ...." for Box 16?

[TurboTaxTerry · Accepted solution]

Box 16 will accept whole numbers or amounts with fractions of securities entered as a decimal place. As example 2 or 2.25

[rick-paynter]

But it will not accept a number such as 422.6540 so do I just round it up to 422.65?

[TurboTaxTerry]

Yes, for the fraction of a share I would drop the .0040 as CRA uses Truncating to remove small amounts from their computer system for storage and processing efficiency.

[Jack_1]

I have the same problem and after years, I am finally irritated enough to send a message. 

How about you send this back to the developers and tell them they need to fix the field type from currency to a quantity type.  This is clearly a programming error. 

Improve your software, don't just tell people to deal with it.

[TurboTaxBrenda]

Can you please provide a picture of both what was entered in your T5008 and then the error message you get? You can contact our phone support team who can view your screen and enter an escalation to have this investigated. 

Thank you for choosing TurboTax 

[Jack_1]

Here you go. 

 

[TurboTaxBrenda]

Please enter 1.00 

[Jack_1]

Yes, I can enter a decimal number with 2 numbers.  But that is not the problem.  Most T5008 receipts have 3 or 4 numbers after the decimal point in box 16.  The quantity field is supposed to be a numerical field - not a currency field.  Thus the "type" of the field is incorrect.  Again, improve the software please. 

The message is telling you to put a dollar amount in a quantity field.  This is misleading.

Thanks

[TurboTaxGinette]

For the fraction of a share you can drop the numbers after the first two numbers following the decimal as the Canada Revenue Agency (CRA) uses Truncating to remove small amounts from their computer system for storage and processing efficiency. TurboTax software is created according to the CRA's directions and instructions.

Thank you for choosing TurboTax.