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jellytot

Reporting gains or losses from investments

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In 2012, I bought some stocks and I sold some stocks. My investment service sent me a "Transaction Summary", which is a record of my buys/sells with prices (I received no other documents from them). I entered the data into a spreadsheet and I made a little money overall.

Now... what do I do with this information and what do I into Ufile?

 

I'm new at this. Would appreciate any help. Thank you!

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In addition to the Interest/Investment income page there is also the "Capital Gains & ABIL" page. There is a "Stocksmutual funds and other non depreciable property" section there with spaces to enter capital gain and loss information for stock sales.

 

Do I have to enter information there as well? If so, why are there two places to enter this?

 

For now I have entered each of my 7 stock sales separately in the "Interest/Investment Income" page, although I understand I could have just put one entry there with the total sales and total cost to buy.

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I am sorry, I misread your first post, it is indeed in the "Stocks, mutual funds and other depreciable property" section of the "Capital Gains & ABIL" page that you need to enter the information.

 

PS: Do not forget to remove it from the Interest/Investment section.

 

Sorry again for this inconvenience.

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The sale of stocks should be entered in the Capital gains section. The purchase is not reported.

 

The interest expenses should be entered in "Interest expenses on money borrowed to earn investment income" which can be found in the "Interest/Investment income" section of the QuikClik navigator.

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How do you group the Capital gains reported into one line, there were numerous trades in 2012 that I don't want to have to enter individually.  But the online tool asks for dates/ quantity etc.  I have a summary from TD Waterhouse that I just want to include for my return.  Please advise.

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So I assume you are saying that I can combine "Publicly traded shares, mutual fund units, deferral of eligible small business corporation shares, and other shares", however the online tool required me to input a date, but these transactions closed at various times during the year.  What date do I use?

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Hi Gabriel,

 

I am also a newbie on this subject, above information was very helpful, and it answered some of my questions. But I have few more question about it, hope to get some helpful insight from you:

 

1) What if all stock buys/sells are in US dollar(US Stock) on T5008, these transactions(>100) were closed at various times during last year, Q:  Do I need to convert each transaction to Canadian dollar using the exchange rate on that date individually? Can I use a single average exchange rate instead? If yes, how do I calculate the average rate exactly? Which official rate I should refer to?  And then add them up as a single total amount for capital gain(loss) tax report(as you mentioned above to combine all transactions into a single one and using the latest transaction date as closing(sell) date). 

 

2) The T5008 summary I received have Transaction Date and Settlement Date for each transaction(Buy/Sell), and Settlement Date is about 3 days after the Transaction Date, Q: Which date should I use when calculating the Exchange rate? 

 

Thank you so much,

taxnewbie

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I am waiting for the answers to this one too. I have a T5008/RL18 from TD Waterhouse which lists 100+ transactions through the year, but no summary information for the boxes requested by the UFile page. Can I just put in my calculated summary numbers for each trading account (I have two) and ignore the rest?

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