Help with T5008 alert in TT

[sensei_mike90210]

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?

[Jeffuuright]

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.

[RB64]

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

[TurboTaxHeba]

This is not a mistake in the software, you can round them to the dollar amount and it will not affect your taxes.

I will forward your suggestion to the developing team.

I hope this was helpful.