Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
M
muska13
March 14, 2023
Question

Do I need to report stocks that were gifted to me by a spouse? ( T5008)

  • March 14, 2023
  • 2 replies
  • 0 views
No text available

    2 replies

    C
    champ_a_adc
    March 16, 2023

    You don't need to report. You will report just when you sell the stock or a part of it.
    Keep your T5008s though, as you will need them to calculate your cost base when you
    sell.

     

    Thank you for choosing TurboTax.

    J
    Jurisa1
    March 17, 2023
    No. The Canada Revenue Agency (CRA) does not tax gifts. Gifts, along with lottery winnings, most inheritances, and life insurance payments, fall firmly on the list of items that are not taxed. However, as a giver, you may face some tax obligations.

     

    Thank you for choosing TurboTax.
    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification