Cannot add a 3rd Real Estate Property sale

[bohnetn]

Capital Gains Schedule 3 and the Easy Step method will only allow me to enter 2 rows of Real Estate, depreciable property, and other properties.  How can I enter a 3rd rental property disposition???

Do I need to upgrade from Premier?  If so, how do I do that?

Thank you for your help

[Krispee · Accepted solution]

I have noticed and run into this problem elsewhere (specifically this year with "Foreign Income Verification Statement" and schedule 3 part 3).  The paper form, as displayed in TurboTax, typically says "If you need additional space, please attach a separate sheet of paper using the same format as the tables".

However, in Turbo Tax I see no way to either extend the tables (how it should be implemented), or to attach a second copy of the form or a worksheet.  This then creates a dilemma; Netfile and Turbo Tax do not allow for additional attachments, so the tax return is incomplete to file and last year I was forced to fake it then print it, change/add in the corrected form and extra forms, then post the tax return file on paper.  Not exactly electronic filing due to a deficiency in the Tubo Tax programming.

Until Turbo Tax fixes this major deficiency, you could write "see list" and show the totals.  If CRA wants the list, they will then have to ask for it.

ps: I am using standard this year, but had the same problem with premium in previous years.

[bohnetn]

Thanks for the great reply Krispee!

I was hoping to avoid paper filing, but looks like that is the only option for these situations.  I am assuming CRA would require details for sales, so would likely need to send them paper copies anyway, ie when requested by them.

I also discovered if you overwrite a field or a calculation field with a manually inputted value Turbo Tax will not let you NETFILE.    Also a bit annoying....

Nick

[Krispee]

Yes, I too have noticed that overriding a field can block netfile.  Frankly, non provision for when one runs out of space is a sloppy /poor TT programming where they have simply computerized a flexible paper system and then expected it to just work.  CRA shares a minor part of the blame because netfile will not accept additional material with a tax return.

Methinks you should write "see attached list" and put the totals in schedule 3.  That way, you have been truthful, accurate and complete with the CRA and submit via netfile.  Then after your return has been assessed, you can either a) send in your list or b) wait for CRA to request it, with an explanation that netfile prevented you from submitting your list with your return.  I cannot see them being able to do much about it since it is a failing of TT and their system, and CRA does want you to use netfile. 

After all, CRA is looking for those that have not declared a sale, so they do not do much if anything with your information unless they are diligently checking land registry changes.

[bohnetn]

Yes, thanks again.

Makes sense about CRA potentially looking for non-declaried sales.  Netfile likely is designed to automatically process lots of applications without a lot of human oversight, so can understand the rigidity. 

Good news is next year's tax will be much simpler for me 🙂

Cheers,

Nick