There is no box 20 Cost or Book Value on my T5008. Do I enter the book value myself?

There is no box 20 Cost or Book Value on my T5008. Do I enter the book value from my bank statement?

Answer

19 people found this helpful

This is the cost or book value of the securities involved in the transaction (i.e. the amount you paid for the securities).

The software subtracts this amount from the proceeds of settlement. For capital types of income, it is transferred to Form S3 SUPP, Schedule 3 Supplemental Statement and Schedule 3, Capital Gains or Losses under Adjusted Cost Base.

If this amount is greater than the amount in box 21, the software calculates a loss on Schedule 3 and line 127.

Was this answer helpful? Yes No
Original
Tax Analyst
1 additional answer

No answers have been posted

More Actions

People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Do you still have a question?

Ask your question to the community. Most questions get a response in about a day.

Post your question to the community