T5 receipt is joint - do I put 1/2 of amount for each person if we are splitting our income?

[soconnor4]

Example: total of dividend income is $14000 - when income splitting as retirees, do we each claim $7000 or do we both claim $14000?

[TurboTaxMonica1 · Accepted solution]

When you enter the information on the T5, there is a box to enter the percentage to be reported by your spouse (enter 50% in that spot). For the rest of your T5, enter the full amounts.

The software will automatically report half the amounts on your spouse's return (assuming you are filing jointly). You don't need to re-enter this T5 if you do it this way.