SOFTWARE ERROR - T5008 entries NOT rolling forward onto Schedule 3

[VM2]

Wondering the same thing? This is one of the reasons to buy Turbo Tax and now we have to manually do all the work? I am sure when I get ready to check and efile Turbo Tax will not let me due to "errors".

[jeaniess]

This is beyond frustrating.

Weeks ago I ran into the problem of some entries from my T5008 form not being forwarded to Schedule 3.

I followed 'Gordo's advice:

"You have to put in a date of 01/01/2024 and choose capital gains from the drop down on the T5008 form and they will roll into Schedule 3."

That did the trick.

With all the confusion over the snafus, I put off completing our tax returns, hoping for resolutions.

Thinking that this glitch must have been looked after by now, today I went back and changed the dates of disposition back to the actual sell dates (i.e. after June 2024) - guess what - they once again have disappeared from the summary on Schedule 3.  You are telling us to fill in everything "correctly" - well, I am definitely not going to omit T5008 gains from my return just because somebody can't fix this snafu.

Please!!

[VM2]

I am not quite understanding what you are saying. We can override your software and insert dates into box 14, choose capital gain and all is good to go? I have a filled out T5008 form and yet I still have no capital gains or losses showing up anywhere on my tax forms. 

[jeaniess]

Don't know what you mean by "override your software".  I manually copied into Turbo Tax the information from the printed T5008 supplied by my investment firm.  The stocks which were sold early in the year carried over into Schedule 3.  The stocks which were sold late in the year did not.

That is why I altered the disposition date for those stocks.

[JeffCharger]

This is an incredible bug!  When is a fix expected?

[jeaniess]

Hello GordoD - Have you been able to Netfile after having changed the dates of disposition of T5008 capital gains?  I tried it and saw how that got around the problem.  I waited several weeks after the glitches became apparent, hoping that this would be corrected, and just now am working on finalizing my return.  Just to check, I changed back the date of disposition of just one of my T5008 items - changed it back to the original actual date of late 2004  - but just as before, then it would not transfer to Schedule 3.  I have changed it - again - as you suggested - back to 01/01/24.  Just wondering whether you have managed to Netfile successfully with this workaround.

[JeffCharger]

I have found that even including the 01/01/2024 date, and Capital Gains, NOTHING carries forward to the Schedule 3.  UPDATE.... I think my statement isn't true.  I have something carrying forward now.  I will spend some more time on this and update my findings.

[VM2]

Sorry not override but fill in manually. All my sells are tax losses so I see that they are now where they should be. Haven't gotten to the next stage where I figure Turbo tax will not accept something. fingers crossed (not the best tax filing scenario 🙂

[jeaniess]

I am crying 😭.  Help.

Thought I had the ongoing RC/Turbo Tax snafus conquered until today.

Tried to netfile.  Message: "The sum of capital gains before June 25 in Box 52 and capital gains after June 24 in box 53 must equal the total capital gains in Box 21.  I KNOW THAT!  Have gone over it REPEATEDLY and everything is correct.  Will not allow me to efile.

Last resort?  Print and mail?

This is the tax year from hell. 

[JeffCharger]

I can't believe that they haven't resolved this bug.   It cannot be used until the bug can be fixed.  The work arounds suggested just aren't working.

Intuit ... you're failing!