This initial release has many issues. Capital gains are not showing up in tax summary. I did a test dividend entry and when I deleted it it changed my taxes owing from $187 to over $4 Million. Then when i deleted another T5 my taxes owing went up to $ 20 Million!!. It would only clear by restarting Turbotax. t also says the TFSA limit for 2024 is $6,500. Not correct. It says my OAS amount for the year is too high. Also not correct. It is like they are using figures from 2022 or 2023. Please do an update ASAP. Final figures can't be trusted right now.
I have also just realized that Turbotax is using an inclusion rate of 66.67% on gains realized after June 2024 even if the amounts are under $250,000. The new inclusion rate is only for amounts above 250K (if approved)
When you enter your amount, in the box you will see 0.00 Make sure that it was removed when you entered your amount, as this was an issue with another customer.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
