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coukellg
New Member

Why didn't adding capital gains change the refund calculation?

I made a large RRSP contribution to offset capital gains from the sale of shares in a small business corporation.  After entering all information except capital gains, TurboTax showed a large refund.  When I added the capital gains, the refund amount didn't change.  It seems like there is no additional tax being calculated on this capital gains income.  
1 Reply
JWKim
Returning Member

Why didn't adding capital gains change the refund calculation?

You capital gain seems to be a QSBCS shares, therefore there are exempt from capital gain (assuming you have still room left)

 

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...