Superficial Loss - 30 day Rule

Forum|Forum|2 years ago
February 26, 2024
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Hi there...looking for clarification on the superficial loss (30 day rule). In a non-registered investment account, I sold shares of a few stocks this past year. I have received a T5008 from the financial institution and entered this using the T-Slips entry screen in TurboTax. I did repurchase some of the stocks within 30 days and understand from CRA there is superficial loss -30 day rule. Do I need to make an entry in TurboTax for this? If so what entry screen do I use for this? Using TurboTax Desktop version.

TurboTax CD or Download Standard

TurboTaxSusan

If you have a superficial loss, you can add the amount of the superficial loss to the adjusted cost base of the substituted property.

pageoneAuthor

Hi there Great. To confirm then, other than the T5008 information, there is no entry to make for the repurchase of the stock in the 30 day window in TurboTax. Of course, any purchase/sell of stock is to be tracked for ACB purposes. Is this correct?