If you have received a T5008 statement with no values, you must still calculate it and report it. You will need to use the information from the attached transaction details to report your securities transactions on your tax return. You will need to verify the "Book Value" or Adjusted Cost Base for the shares/mutual funds sold and reported on the T5008. Otherwise, all of the proceeds are reported as a Gain on your tax return. Review your statements from the Investment Company.
Also select as Type of Investment "Capital Gains" under Box 19 on the T5008.
You can choose to enter these transactions two different ways,
- by going to Income > T-Slips > T5008, and make your entry/entries on the T5008 slip page;
or in the Investment section. To enter here, go to Income > Investments > Capital Gains & Capital Gains
- Deduction Profile > and check the box next to Sold stocks, bonds, real estate, other capital property, and continue.
Note: If you enter your T5008 slips (or use the CRA AutoFill feature to import) on the T-Slips page in TurboTax, do not enter them again under your Capital Gains & Capital Gains Deduction Profile, and vice-versa. Doing so will cause double reporting.
For more information, please visit TurboTax FAQs page: T5008 Slip – Statement of Securities Transactions
Thank you for choosing TurboTax.
Sign In
Canada (English)
EN
