Turbo Tax Online Version not auto-filling box14 for T5008

Forum|Forum|1 year ago
March 29, 2025
3 replies
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I'm trying to file FY2024 taxes using the online version. I've auto-pulled all the information through CRA. BUT, on T5008 Box 14 is not auto filled, and I'm getting an Error as I proceed to file. I've downloaded the T5008 from my trading house.I have a lot of trades and it's becoming very-very cumbersome to fill each item manually, especially when I'm working on two different windows; one for Turbo Tax and the other for the T5008 document from my trading house. Also, the dates for Box 21 are in two different formats. Turbo Tax is asking for dd/mm/yyyy format, while the T5008 is in mm/dd/yy format.

Please help, otherwise I'll be sitting in front of my computer for a long time......

TurboTax Online Premier

harjitsgillAuthor

BTW: This should not be too hard to implement in year 2025. If you can figure it out, just ask AI and it will actually write the code for you.

harjitsgillAuthor

It gets worse, I selected to 'Auto-fill your tax info from the CRA into your return.', using the Re-import button; Turbo Tax pulled duplicate entries, increasing my Tax Liability or Balance owing by quite a few thousand dollars. Needless to say, THIS IS BAD, IT NEEDS TO BE FIXED NOW!!!

TurboTaxAniqua

@harjitsgill We appreciate your feedback and will forward it to the relevant department.

To ensure that all of the information you will submit is accurate and that there are no double entries, we always advise you to check your return before filing.

ralpha1

Wow. This is a very poor reply to a very real problem. I am facing the same problem as above. I can't believe TurboTax has allowed this to happen. The date is meaningless this year since the Capital gains limit of 250K has been revoked. TurboTax should allow us to override the error and submit anyway without dates being filled in. Anything less would make the program more difficult than manual entry on forms. PLEASE FIX THIS ASAP!

BTW, except in Quebec, dates are formatted mm/dd/yyyy, except in TurboTax??? The problem above would have been alleviated if at least they were in the same format as the rest of North America so you could cut and paste from your T5008 Slip. But no! You now have to swap the DD and MM to fit the TurboTax format on every T5008 entry. There is no way to set the Date format as a preference...

Also, the type of income for T5008 entry should default to Capital Gain as opposed to leaving it blank which again forces one to access every form to set the type of income.

Simple fixes that would solve a world of problems.

Houbento

Totally agree with many comments. Why not have defauly be capital gains! also date, in many cases could be default to 31/12/2024. Very annoying a nd waste of time to have to do this. Same problem last year. Thought i was doing something wrong.

Not sure how many users need to complain before something is done about it.

TurboImpotVeronique

@Houbento We understand that this is not ideal, but this is not an information included in the Auto-File option from CRA. You can also combine them and keep track of your T5008 on a spreadsheet for your records.

As per CRA - February 14, 2025 - Auto-fill my return:

While the proposed effective date for the increase to the capital gains inclusion rate has been deferred to January 1, 2026, the CRA is maintaining capital disposition reporting for period 1 (dispositions that occurred before June 25, 2024) and period 2 (dispositions that occurred on or after June 25, 2024). This applies to both the T1 and T3 income tax returns. Period 1 and period 2 reporting is being maintained to ensure continued alignment with the tax slips that have already been published and are currently being issued to Canadians and filed with the CRA. As well, the proposed increase to the lifetime capital gains exemption applies starting with the capital dispositions in period 2 of qualified farm or fishing property and qualified small business corporation shares.

Note: Auto-fill my return service will not deliver box 14 of the T5008, Statement of Securities Transactions, which is relevant for period 1 and period 2 reporting of capital dispositions, and boxes 270 to 273 on the T5013, Statement of Partnership Income. Please ensure that all proper fields on the return are filled in correctly, including information not delivered by the Auto-fill my return service, and that the information provided is true, accurate, and complete.

Thank you for choosing TurboTax.

harjitsgillAuthor

More garbled gibberish.

Just write the code that will read the dates from the T5008 and fills them in my tax return, in the appropriate boxes. Not rocket science in 2025. If your boys don't know how to do it, just ask AI, it will write the code for you.