Capital Gains

[mxdtax]

My Capital Gains figure is a negative number after entering a T5008 on Turbo Tax.  Now, I can't get past the Net Capital Losses page on Turbo Tax.  It keeps giving me an error no matter what figure I try to enter.

[TurboTaxSusan]

Are you using TurboTax CD/Download or TurboTax Online? What is the exact error message that you are getting?

 

[mxdtax]

Hi, I am using the Turbo Tax Online Deluxe edition.

When presented with the  Net Capital Losses page, it tells me that the amount I enter for 2023 must be less than the Capital Gains amount....which based on my T5008 is a negative number.  I can't enter zero, and I can't enter a negative number.  It will not let me get passed that page.

I hit the back button several times, and then skipped directly to another section.  This allowed my to bypass the capital losses section.  Hopefully, this won't create me any issues with CRA.

[mxdtax]

Hi, I am using the Turbo Tax Online Deluxe edition.

Message says " You cannot claim a loss greater than your capital gain".

My "gain" based on input of my T5008 is a negative, and shows up as a negative capital gain on Turbo Tax.

I can't get past the Net Capital Losses Being Claimed page.

[TurboTaxSusan]

You can try deleting the T5008 and re-entering it. Or delete the T5008 and instead claim the loss in the Capital gains section (as if you didn't have a slip).

If you are still not able to resolve this issue, please contact our phone support team at 1-888-829-8608.