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estella1
New Member

Where to enter capital gain in Business Incorporated My company has investment. T3 shows capital gain Box 21, also amount in Box 42 return of capital from Trust.

My holding company invests retained earnings in mutual fund.  I received T3 showing 3 amounts: 

  1. Actual amount of eligible dividends in Box 40; 
  2. Capital gains in Box 21, and 
  3. Return of capital from the trust in box 42.  
Questions:
  1. I entered dividend in 8096 under Revenue.  Hope this is correct.  Will dividend tax credit calculated by Business Incorporated?  
  2. Where to enter Capital gains?
  3. Where to enter Return of capital?

Thanks!

2 Replies

Where to enter capital gain in Business Incorporated My company has investment. T3 shows capital gain Box 21, also amount in Box 42 return of capital from Trust.

Hello,

I would suggest contacting the CRA tax tip line, we are not fiscal experts and we do not wish to lead you in error.  The phone number for the CRA tax tip line is 1-800-267-6999.  Please contact our support if you need assistance implementing the information in the software after having spoken with CRA our support number is 1-866-438-8020.

estella1
New Member

Where to enter capital gain in Business Incorporated My company has investment. T3 shows capital gain Box 21, also amount in Box 42 return of capital from Trust.

This is not a helpful answer.  I know what is eligible dividends, capital gains, and return of capital.  But where in Turbotax Business Incorporated should these amounts entered?  CRA is not going to help because CRA did not create the software.