T3/Schedule 3 Capital gains

[mpink]

When reporting capital gains on a t3 slip and allocating 50% to spouse- the allocation is not made on Schedule 3 and 100% is reported.

[brnsdv]

Yes.  I've written about this and other related errors (T3 capital gains and prorations) multiple times.

[TurboTaxSusan]

@mpink 

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.

[brnsdv]

Yes ... rather obvious ... too many slips to deal with individual return manual calculations which is a primary reason I bought TurboTax in the first place.

[Meadowlark17]

I phoned to report the same glitch - I am still waiting for an email re their customer service.  Very poor service this year.

[mpink]

Unfortunately, the "help desk" believe this issue relates to the Schedule 3 CRA issues- which we clearly now know is not the situation since the Schedule has now been approved by CRA. I've also asked for a call back- but no luck. I've asked for a timeline re the fix- which should be simple (the T3/Sched 3 input forms worked last year).

I can only imagine how many returns are being filed by taxpayers who believe the allocation between spouses is being done incorrectly-

Yes the aggravation is incorrect statements by the "help desk" and no clarity on a timeline.

[brnsdv]

Exactly.  If TurboTax thinks customers are upset now, just wait til these people figure out that the software they thought they bought is significantly flawed and it's costing them a lot of money.   And others will probably never figure it out.  What shame.  Spend $40 and lose thousands.  Not a great value proposition.