WebOct 30, 2024 · The T5008 or December 31st account statement shows capital gains based on YOUR buys and sells. (usually only received when you sell or cash out). And you should be reporting both when filing your income taxes. 1 Reply tdibratt Returning Member March 18, 2024 7:19 AM So I imported my T Slips from CRA. I have both a T5008 and T3 for … WebApr 16, 2024 · Timmins. A T5008 is the reporting that brokers send to CRA when a buy or sell is done. Some brokers send a T5008 to their clients and others only send a trading summary. Whichever is sent, it is up to the client to keep track of all trades with the adjusted cost base in order to properly determine the capital gain/loss.
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WebTaxes: Don't import T5008 from CRA. I let TurboTax import my T5 slips and transactions from CRA and it worked fine for T5. However, the T5008 slips brings-in incorrect information! Completely wrong. If you only have 1 year of trading, then it may work, otherwise, it doesn't not properly track your cost basis. I ended up having 30,000 of capital ... WebSample T5008 Form THIS IS A SAMPLE FORM AND WILL NOT SUBMIT ANY INFORMATION Canada Customs and Revenue Agency Statement of Investment Income Recipient's Name and Address: Recipient's Account Number: Recipient's Taxpayer Identification Number Box 10: Dividends from Canadian Sources Box 11: Taxable amount … dji mic fx3
Court case shows how much can go wrong with T5008 slip
WebMar 19, 2024 · All those T5008 slips and trading summaries are in USD and must be converted to CAD. However, the CRA provides an average US$ rate for 2016 and it is 1.32480640. So I can use that instead of going back to every settlement date. So yes, I have some work to do over the next couple of days in my spare time. Haha WebFeb 28, 2024 · Please be advised that for that purposes of downloading your T5008 slips for this tax season we have implemented a maximum download of 50 - 55 T5008 slips. This … WebOct 30, 2024 · On a T5008, box 11 Indicates the Recipient type. 1 = individual 2 = joint account 3 = corporation 4 = other, e.g., association, trust (fiduciary-trustee, nominee, or estate), club, or partnership. View solution in original post 0 16,452 Reply 2 Replies TurboTaxSusan Moderator October 30, 202412:02 PM Mark as New Bookmark dji mic gopro