Capital Gains from sold rental property not working in Turbotax desktop Premier 2024 Case [phone number removed]

[trottirj]

Hi All,

I reported a problem to support by phone in TurboTax desktop Premier 2024 Case [phone number removed].

The total capital gains does not carry from Schedule 3 to the T1 form line 12701.

I received an email survey  that my case was closed?

Any one have an update on this issue?

[simonjcoates]

I can confirm that this is a problem. The value from line 26 of schedule 3 doesn't get copied to the first part of line 35 (the bit before the 50% calculation) and so it ends up being 0 from thereon and 0 in the T1 at line 12700. I overrode the value at the start of line 35 and things seemed to work out OK. Hopefully it gets fixed before Netfile time ...

I'm going to try and reach support tomorrow.

[trottirj]

Hi 

Hi Simon

What I did was take take 50% of line 26 on Schedule 3 (since it is less than $250000) and enter that value into Other Income of the T1

Interestingly from my original post they remove the case number. (phone number removed) was actually the case number. Which is $[[phone number removed]].....

thx

[TurboTaxBrenda]

@trottirj- No update as of yet- We are looking into it and we will report back here. 

[mcarla]

Turbo tax is only calculating to line 26 on schedule 3.. it's not completing part 5 which will transfer line 1990 to the T1, when will this be updated?  Just need to make decisions on split between spouses and RRSP contributions 

I don't want to override as I may have a few scenarios to review 

[TurboTaxAniqua]

@mcarla We hope to get the issues with Schedule 3 resolved as soon as possible, but we don't have an ETA at the moment. 

Please note that the Canada Revenue Agency (CRA) hasn't updated Schedule 3 on their website yet - they still showing the 2023 form as the latest.