Hi Guys,
With my previous employer I was part of a stock purchase plan where part of my salary automatically bought company stock which the company matched. So I got a T5008 for the stock purchases I made through the plan and sales from when I left the company. I guess because the box 20 amt is less than the box 21 amount I get the following alert in TT:
There is a loss for at least one of the T5008 slips which you have reported as investment income. Loss is allowed only when investment activities are reported as business on self-employed statement.
I'm not sure if I should just ignore this error or not. Can you guys help?
Do not ignore the alert. Assuming you are not in the business of buying and selling securities, when you sell the shares, you report a capital gain or loss in the year you dispose of the shares. Your alert message implies that in TurboTax you have completed a T-5008-Securities Transactions input panel and you have selected “Investment” as the “Type of Income.” If so, change it to “Capital gains” and the warning should disappear.
Hello
I have completed the T5008 form in TurboTax and it indicates an error in the quantity of securities entered.
For example: I entered 622.2220 and TurboTax responded with it should be a dollar amount.
When I changed the value entered to 622.22 then TurboTax accepted my entry.
Will Intuit provide a fix for this problem?
Thanks