T3 Slip Entries Do Note Split % by Spouse

[brnsdv]

If I enter a T3 amount for Capital Gains Box 21 on the T3 Slip entry page and show my portion as 50% and my Spouse's as 50%, ALL of the Capital Gains end up on my T1.  NONE of the Capital Gains end up on my Spouse's as it should.  This ERROR is readly apparent on Schedule 3 Part 4 where all of the "Capital gains or losses from your T3 slips" (Line 17599) are allocated to only my Line 17599 whereas 50% should be on mine and the other 50% on my Spouse's Line 17599.  Unbelievable what a mess this year's TurboTax releases have been ... even the latest update from a couple of days ago hasn't fixed this.

[TurboTaxBrenda]

As per the CRA: The CRA is working diligently to update its systems to reflect the currently enacted capital gains inclusion rate of one-half. However, this update may not be completed when online filing becomes available on February 24, 2025. If you are impacted by this situation, you may avoid processing delays by waiting until the updates are completed in the coming weeks before filing your income tax and benefit return. The CRA will grant relief in respect of late-filing penalties and interest until June 2, 2025, for Individual filers and until May 1, 2025, for Trust filers, to provide additional time for taxpayers reporting capital gains to meet their tax filing obligations.

Once this is complete, TurboTax will need to make the changes to the software so that it follows the CRA requests. Once completed, all the calculations will also be updated as needed. 

Please see our TurboTax FAQ on locked forms; you will be able to follow the updates so that you will know when it will be ready so that you can successfully file your 2024 tax return. 

Thank you for choosing TurboTax.