If we receive a T5013 from an investment held in a joint investment account how do I split the T5013 with my spouse using Turbo Tax?

Forum|Forum|4 years ago
March 26, 2022
1 reply
0 views

The T-Slip entry screen for T5013 does not have a spouse's percentage entry field like the T3 and T5 screens do. How do I go about splitting the income?

Mohit0102

If you're preparing returns for you and your spouse/partner at the same time and indicate that both spouses have this type of slip, enter one person’s slip at a time (TurboTax asks you to select which taxpayer's slip to enter first).

While entering the information in T5013 - Statement of Partnership Income, you will be able to see Box 005 (Partner's Share %) on the first screen. You can add the percentage of your spouse to split the joint investment.

For more detailed information, please review the links below from our TurboTax articles.

How do I enter a T5013 slip

T5013: Partnership Information Return

Thank you for choosing TurboTax.

bruce2200Author

Thank you for your reply.

Box 5 on the first screen is not used for splitting income as you would for a T5 slip but it is for information purposes only to report the taxpayer's ownership % of the partnership that issued the T5013. Also, we don't have two seperate T5013 slips but one with both my and my spouse's names on it.

It appears that Turbo Tax has not anticipated this situation which surprises me because we can't be the only people with a joint investment account and consequently receives a joint T5013.