Is anyone else noticing that the software is not splitting capital gain income reported in box 52 and 53 on a T3? Our T3 shows various investment - which I've put in at 50/50 with my husband. It splits the dividend and other income at 50/50 - but it is not splitting the capital gain income from box 52 and 53. Is this a glitch? Perhaps related to the split between before and after June 2024?
Yes, same here. Although today Schedule 3 won't show ANY T3 Capital Gains from my slips...it's like I didn't enter any of them.
@jh1427 For the error on T3 slip not balancing box 52+53 to equal box 21A, try entering the sum of 52+53 into box 53 (deleting 52); it should fix the problem.
That’s not the error I am talking about. Try reading my post again. It’s the 50/50 split between spouses from the T3 that is not working fir Capital Gains. This is very frustrating.
The issue is being looked into.
As a workaround, you can enter the T3 on both spouse's return, but manually calculate the split and set the "Your Percentage" value to 100% for each. The "Your Percentage" value just tell TurboTax to do the split, it's not transmitted to the CRA.
I reported this issue to TurboTax in early January and opened another ticket this week because they claimed "Schedule 3 was fixed". Either way, it's been over 2 months and apparently TurboTax cannot find anyone who knows how to multiple a percentage by an absolute number and produce an absolute number as a result. Most of their coders and most of their management team need to find jobs they can actually do. And if TurboTax outsourced all this work this year then not only do they need to complete all of the firings I just mentioned but they need to insource that work to people who can actualy do it. I've had this product every year for over 30 years, all the way back to its origins as QuickTax, and I've never seen such poor quality control and lack of a sense of urgency around the impact they are having on their customers. Absolutely embarrassing for their brand. It's been TurboCraps this year.
Spent hours trying to ascertain what was wrong and eventually split the T3 manually between myself and my wife. Odd that the Dividends and Other income split fine but not the gains. I should have looked online first and could have saved myself a lot of time. Not certain why Turbotax did not send out some form of notification.
@LDC11 We are aware of this issue, and our development team is working on a resolution. We appreciate your patience.
There is a lot more wrong with this form than just not splitting the gain between spouses. Adding an extra cent to the calc so it does not balance to line 17600 on sched 3 and causes an error trying to netfile. Not splitting dividends either...so can't believe Turbo Tax's answer is to manually calc eligible, taxable and dtc for each spouse and enter ....wow.
You are correct ... there is a lot more wrong in TurboTax than just the splitting of gains between spouses ... a lot more ... and these errors have been there since December when the product was released and reported by myself and others since early January.
@brnsdv Thanks for the feedback. We are aware of this issue, and our development team is working on a resolution.
We are hoping to get this resolved quickly. You have been added to the email list and will receive an email once it is resolved. We appreciate your patience.
@mcorbiell01 We are aware of this issue, and our development team is working on a resolution.
We are hoping to get this resolved quickly. You have been added to the email list and will receive an email once it is resolved. We appreciate your patience.
I have posted elsewhere in this community. This community responses troubleshooting vehicle is brutal for finding issues as people are struggling how to describe this issue of Turbo Tax not handling the T3 split with spouse properly. You get hundreds of different responses depending on how the subject title is entered.
There is no flag message in Turbo Tax indicating there remains a problem with the downloadable version. Apparently the online version is corrected, I dont have this version.
My problem is that my spouses return processed with CRA with $0 capital gains reported when it should have been split 50/50 from the T3. When I netfiled my return, it came back with an error code 95365. After spending 2 hours waiting to call Revenue Canada, we performed a walk through and I noticed my wifes return did not include the capital gain. Since this was a small amount approx $200 (50% is taxable), I thought I would just go ahead and add a separate T3 to account for 100% of the capital gain. I got the same error code.
So, then I tried re-entering the original T3 using 100% portion on my Tax Return, splitting the amounts 50/50 that were split with my spouse and reporting 100% of the capital gain on my taxes, did not change anything else (pension splitting etc.). CRA accepted this version and it processed and hope there are no further issues. This will cost me a couple of dollars of taxes as my income is higher than my spouse.
This is not recommended if your spouses return has not yet been net filed. I would suggest entering the T3s separately for you and your spouse at 100% but claiming 50% of the amounts on each return.
This aspect has been flawed and remains flawed since the mid-December release. Over 3 months since this issue was identfied and nothing has been done to fix it. TurboTax owes us all a refund for the software ... I mean the "botched-ware".
@Gerry16 Thanks for the feedback. We are aware of this issue, and our development team is working on a resolution.
We are hoping to get this resolved quickly. You have been added to the email list and will receive an email once it is resolved. We appreciate your patience.