T3 - Capital Gain

[TurboTaxAniqua]

@AdaNg Since the information will be inaccurate, we will not recommend making them up and adding them. We recommend that you wait. We are aware of this issue, and our development team is working on a resolution.

[TurboTaxAniqua]

@aalaily .We are hoping this can be resolved quickly. Once it is resolved, we will update you in this thread. We appreciate your patience. We are aware of this issue, and our development team is working on a resolution.

[nerdboyjoe]

@Zibonesti many have asked for an estimate but TurboTax keeps saying they have no estimate 

[Garoto]

The problem is not fixed on the desktop version.  The work around does not work.

When will it be fixed.

[Zibonesti]

@TurboTaxAniqua , thanks for letting us know.

In all my years of using TurboTax, dating back to 2004, I've never experienced this kind of software error. What I find even more perplexing is that the development team is unable to provide an estimate to getting this problem fixed. The T3 slip is not new and the proposed Government changes do not impact how the boxes should behave (e.g.: my T3 slip has an amount in box 21 but no amount in boxes 52 or 53, no different than last year).

Hopefully, you can speak to the person responsible for development and get us an estimated timeline.

Thanks.

[nerdboyjoe]

@Zibonesti totally agree. I have used this product (under various product names) for 30 years. I’ve also been a developer of accounting and financial software for 30 years. If they can’t give an estimate on a release date, then they have absolutely no idea what they are doing.

[Zibonesti]

@Garoto, if it helps, one way to get TurboTax to accept your slip is to put whatever amount you see in box 21 in box 52 or box 53.

Based on the descriptions from the T3 slip, Box 52 and Box 53 are simply separating your capital gains (Box 21) into those realized before and after June 24, 2024. This likely relates to a tax rule change or reporting requirement.  

Example:
If your T3 shows that you have $500 in box 21, you would also put that amount in box 52; thus indicating that $500 in capital gains were realized before June 24, 2024.

[Zibonesti]

@nerdboyjoe ... scary thought indeed! 😱

[Simon90]

I can confirm the splitting of capital gain is NOT WORKING.  Turbotax totally ignores the value of the splitting percentage. Is there going to be a fix ? Has anyone found a workaround?

[TurboTaxAniqua]

@nerdboyjoe 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.