When using TurboTax T2 return, can we have dividend payouts and obtain T5 slips for shareholders?
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TurboTax Business Incorporated does not provide the option to create T5 slips for shareholders. The actual completion and filing of the T5 slips must be completed in a different software product or by using the Canada Revenue Agency (CRA) provided forms.
TurboTax Business Inc does provide the T2- schedule 3. This is a CRA schedule used to report dividends received by, or paid out from, the corporation during the tax year.
TurboTax Business Inc does not provide forms T2054 or schedule 89, forms used when capital dividends are paid. A program such as Intuit ProFile would be required if access to theses forms is required.