Dont know how to feedback to Intuit re T5013 in Turbotax. Still terrible.
1. No provision for splitting input for a jointly owned security, as provided for T5's etc. Must do manual split and enter two forms
2.Filers account no. nees 15 positions, has only 9
3. Box 113 is missing; this is return of capital I believe but life would be easier if they just provided for it
4. Box 132 is missing
5. Box 134 is missing
6. Box 135 on the forms I receive - there is more than one box on the forms I receive, one with a listed code of BMU, one with a listed code of USA. I have to add them together but then the country source of income is not right
7. Box 5: needs at least 7 significant digits to the right of the decimal place
For the partnership/filer's number, you can enter the first 9 numbers before the RZ0001. This data is for information purposes only and is not used in any calculations.
Box 113 - is for return of capital, which is not taxable and so you do not have to report it. Return of capital is used when you are getting some of your original investment back. You use that amount only for purposes of calculating the adjusted cost base.
Box 132 - You won't find entry fields for this box as it isn't necessary to enter (TurboTax automatically includes this amount based on the rest of the information contained on your T5013).
Box 134 - The amount that the T5013 has calculated as the Dividend tax credit on the Box 133 Dividend amounts (TurboTax automatically calculates this, so there's no need to enter any amounts here).
Box 135 is on T5013-2 page in forms mode. In EasyStep mode, it's on the left side under Box 130. If you have amounts from more than one country, you can label it Global.
Box 5 - If the amount has more than 2 decimal places, round it to the nearest 2 decimal places. This data is for information purposes only and is not used in any calculations.
This wss in large part feedback as I did the best I could to fill in the form.
1. Still think you should provide for a splitting % as you do for T5's, T3's. Monumental nuisance turning one from into two manually
2. Yes this is return of capital; but the relevant box is provided on T5's etc.. Why not here - just raises questions if not provided for.
3. 132 and 134; again the t5's et al allow similar figures to be entered from the company provided form. Better to do that to insure the same result as CRA gets is reached
4. Box 001 If you wont accept the full partnership number (15 characters) that the company provided, you need a help note or something. Simpler to accept the full number
5. Still uncomfortable about box 135. I have to add the amonts from two different box 135's given by the company, each with a different country code, BMU, and USA. Maybe this doesnt matter, I dont know the background on this.
In general this feedback is to make things more straighforward, and in the case of splitting %, easier
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Turbotax wants Fiscal period start date but T5013 only indicates the end date.
Turbotax asks if Partnership final fiscal year yes/no - how would I know this - it is not on the form.
3 Boxes available for 171 based on if income from cap gains, investment or rental - how would I know which one applies?
Don’t see a place to enter box 030 info in Turbotax
Don’t see a box to enter box 151 in Turbotax
So do we combine amounts from the 2 box 135 amounts to enter in the one 135 box available.
And so how do we split the income from T5013?
Thanks!
You can enter 01012023 for the Fiscal period start date.
Unless you know that the partnerships has ended/gone out of business, just put no.
For box 171, you would have get the income type from whoever issued the slip.
Box 030 is automatically calculated by TurboTax based on what is entered in boxes 151 to 158. You will find these boxes in TurboTax Online by clicking on the blue link "Boxes 151 to 158" next to Capital gains (losses).
For box 135, you need to enter the total foreign income, which is usually the sum of all the box 135s, but there are instances when first box has a grand total and all following ones are a breakdown per country.
To split your T5013 with a spouse, you would have to enter a T5013 for each spouse and manually calculate the split amounts.
Thank you for the info. One more question. I sold shares in Sage Properties Corp (who did not issue a T5008 so needs to be entered manually). They are a private corporation. I’m not sure how to classify the “type of capital property” on the capital gains screen as there are so many options. Should I report it under: “Mutual Funds/public traded shares/stocks”? Thank you!