Hey Sparky
This was SO helpful. I had been stuck for many days until I thought to investigate through the HELP section ... Thanks lots for figuring out the solution to this mess and for posting the solution. Would have been nice if Intuit had let all of us know ... it's not like they wouldn't know ... imagine the millions of hours wasted by their not communicating this simple fix to their customers ... unacceptable ....
Thom what was Sparky,s solution? I’m still trying to remedy. So frustrated. Lady ear using TT. Thankyou
Input the amounts in Box 52 and 53 in the second boxes 52 and 53 on the system - NOT the foreign income boxes. Your errors will disappear and you will be able to netfile.
I simply used a different tax program and had no issues and it went through right away first try. That saved sooo much frustration. Slamdunk13.
So I left the value I have for Box 21, divided that by 2, and entered that 1/2 value into Box 52 and 53.
Result: no more error, BUT now my refund has gone down by a couple hundred dollars.
I'm no tax expert, but can anyone explain why this is happening? I thought Boxes 52 and 53 just showed what part of 2024 the Capital Gains (Box 21) came from.
You need to input the values in Box 52 and 53 into the second boxes 52 and 53 on the tax program - NOT the foreign income boxes. All the errors will disappear and you will able to netfile.
OK , I think I maybe understand what's up. Maybe.
When I see my refund go down after splitting box 21 into boxes 52 and 53, I think it's going down to the correct refund! Cause when I see the Income Summary page, I see that 50% of box 21 is showing as "taxable capital gains". Before I put any values into boxes 52 and 53, my "taxable capital gains" was zero!
The amounts in Box 52 and 53 total Box 21 on the T3. 52 and 53 were actually for the new capital gains tax that is now defunct. Box 52 was the amount before the new tax and 53 was the amount after the new tax was to come into effect. If the two boxes total box 21 on the T3, then your refund is correct. The program would have been calculating your refund based on incorrect data input. Ours went down too but is correct.
Your taxable capital gains is always 50% of the amount of Box 21 on your T3 so the amount i# correct.
Input the amounts in Box 52 and 53 in the second boxes 52 and 53 on the system - NOT the foreign income boxes. Your errors will disappear and you will be able to netfile. Good luck!
AWALL1
Level 2
frustrateduser6
New Member
katiemaeskye
New Member
Robbierobb19751
Returning Member
kathyli
Returning Member
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.