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Intuit

How do I split capital gains between spousal returns?

TurboTax does not automatically split capital gains between spousal returns. Each spouse must separately report the appropriate percentage on their own return.

If you are reporting a capital gain on a T slip (T3, T5, T5008, etc.), enter the full amount in the boxes as reported on your slip, and enter your percentage at the bottom of the slip. Your spouse should report the full amount on the slip as well, but report her or his percentage at the bottom.

If you are reporting a capital gain using the capital gain or loss profile (Schedule 3), report your number of shares only since you will not need to report your percentage. For example, if you and your spouse purchased (and sold) 100 shares of stock and you paid 1/4 of the total purchase amount, you would enter information for 25 of the shares and 25% of the expenses on your return. Your spouse would then enter the rest on his or her own return.

Related information:

Where do I report capital gains and losses (online version)?

There aren't enough lines to enter my capital gains on Schedule 3

The amount of capital gains on my T5008 is doubled in TurboTax. How do I fix it?

What are capital gains and losses?

IN SOLUTIONATOR [J9] Mar 27/08 Removed OS systems (Win 98 ref). [J9] 12/02/08 TY07 updated product year [gi] 28/12/06 updated product year

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