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Found 10 results

  1. Good day! I auto downloaded from CRA, and received a T5008 for an in-kind contribution of a stock to a TFSA, from my main taxable investing account. Comparing book to price at transfer, I have a small loss. I know this isn't claimable, but CRA doesn't have a book cost listed, so I don't want to leave it as is, or they (and the UFile program!) will think I had a profit for the full amount. However, if I enter the actual book cost, it will see this as a loss on your program, which I am not entitled to. I don’t want to delete it, since CRA will just see it as a gain I am skipping over. How should I do this? If nothing is obvious, my next plan is to call CRA. Thanks! I should point out that I did contact UFile, outlining the question as above (Request# UB2770304 if you are “listening” in, UFile!) , and this was the somewhat disappointing and yet amazingly humorous off-topic reply to my inquiry at 4:45 yesterday (I wrote back immediately, but have heard no more): Hello, Thank you for contacting UFile technical support, If you have some losses in your T5008, you should choose 'Capital gain /losses' as type of income not 'Investments income. Regards, Fadi On behalf of the UFile Team
  2. Hi, I would like to limit the capital loss from previous years being applied to QC Line 290. The UFile Help does have a statement under the header "Deductible capital losses to carry forward" that "If you wish to limit the deductible capital losses to be applied this year, indicate the desired limit here." but I can't seem to find the navigation to that interview section thanks, Richard
  3. Hi there, my partner sold two rental properties in 2017. One had capital gain and one loss. The net is gain. However, Ufile only reports 50% of the one with capital gain. I thought it should be automatically report the net of the two? Question: how can i use the capital loss to offset the capital gain in the same year? Thanks!
  4. I have some capital losses from 2016, but I would like to apply them to a later tax year. Am I supposed to declare them now when I am filing for 2016, or do I just declare in whatever year I would like to apply them to?
  5. Hi, On Jan 16, 2015 I sold to open 5 contracts (500 shares) of BRK put options and received $2025 in premium. On Jan 21, 2015 I bought to close 3 contracts (300 shares) and had to pay $1350. On Aug 25, 2015 I bought to close 2 contracts (200 shares) and had to pay $1280. How do I enter this into Ufile? Thanks
  6. I sold a property for a loss in 2015. In the interview under 'Real Estate and other depreciable property', I enter Building because it is a building on a piece of land, I entered the two dates and the proceeds of disposition and the adjusted cost base (which is more than the proceeds of disposition). After doing the review and checking my tax return, the loss is not calculated. The field is just blank. What gives?
  7. I have a capital loss from 2015 (let's say $3000), and I'd like to use that against a capital gain I had in 2014 (let's say $2500). I've found the appropriate forms, but I'm not sure which numbers to put in which boxes on "Net capital loss for carryback" section. Can someone give me some guidance? Thanks! Adam
  8. I have joint ownership with my wife of an investment account for trading stocks. Why does Ufile NOT optimize the "percentage share" in order to save me money on my balance owing for my tax return? I played around for a long time entering different percentages on a per stock / per trade basis before I realized an optimum value that actually saved me several hundred dollars on my balance owing. The reason I bought Ufile was to do this calculation for me. Very disappointed in Ufile - unless i am missing something here. Please comment.
  9. I am working with UFile for Windows. A number of years ago, about the time that I was transitioning from TurboTax to Ufile, I amended a previous year's tax (a TurboTax file) to use "new" capital losses against a prior year. I'm not quite sure how I rolled over the TurboTax data into the Ufile data but Ufile now has the pre-amended data in its history database. I cannot figure out how to correct this situation so that future years will have the right amount of cumulative capital loss available to me. I was able to insert the correct amount of capital loss available to me in this year's tax by utilizing the "limit to the deductible capital losses applied this year" entry in the "Losses and carrybacks" section of the QuikClik Navigator. I don't want to be doing this every year - is there some way that the capital loss history can be corrected?
  10. I sold property this year and unfortunately made a loss on it from when I bought it several years ago. I have completed the form in Ufile listing the disposition, ACB and cost of sales of the property. The ACB is obviously larger than the disposition price, creating what should be a Capital Loss. When I check the final completed return, the schedule 3 is not fully completed. Ufile fills in column 5 in section 4 as $0.00 and then box 197 and box 199 are not calculated - just blank. If i go back in and change the ACB such that i made a gain, then the form is fully completed. I assume that the loss should be calculated in parentheses and Schedule 3 correctly completed? Is this a bug? Thanks
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