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Level 1
posted May 3, 2022 9:00:48 AM

How to enter Day Trading info into TurboTax.

I have a self employed business that has nothing to do with Day Trading and I was able to load all the information for the self employed business without a problem. Now how and where do I enter the information about the Day Trading? I was able to download the T5008 info from CRA and went through all the trades and called them investments. How do I go about getting this information to show up on Line 13499 and 13500?

 

Thank you for any help.

KeithA01

0 1 316
1 Replies
Level 3
May 4, 2022 2:11:05 PM

Any T5008 slips you receive will show your profits or losses from securities you sold during the year. Follow the applicable steps below to report your day trading income in TurboTax.

 

Before you begin, complete the Intro/Profile steps of your return until the Find (magnifying glass) button appears at the top right corner.

  1. Select Find and enter T5008
  2. Select T5008 Securities Transactions, then Go
  3. On the T5008 - Summary screen, select Enter New T5008
  4. Complete all applicable fields. For Type of Income, select Investment (Note: You can add up the totals of any T5008 slips relating to your day trading transactions)
  5. Select Done With T5008
  6. On the T5008 - Summary screen, select Done With T5008 Slips

Refer to TurboTax FAQ for more information: How do I report income made from day trading? 

 

Thank you for choosing TurboTax.