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Capital Gains Losses

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Changed some investments for first time in 2014 and got a Client Tax Statement - Capital Gains and loses as well as a T3 Statement of Trust Income. The T3 is straight forward and entered data into UFile. The Client Tax Statement lists several fund names (lets say 10), units, date, proceeds from sale, average cost and gain(loss). I did access the correct form (I hope) on UFile that asks for details of stocks, mutual funds, etc. I thought totals would just have to reported and would then show on lines 131, 132, 197 and 199. Does one of the forms have to be completed for each fund? Are the number of shares the units (as on my bank statement). This seems somewhat complicated for a newbie to this area. Contemplating have my return done by an accountant. Any help/suggestions appreciated.

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Thanks overtaxed for your initial response. This is a portfolio managed by CIBC. Like I said I got a Client Tax Statement of Gains (Losses) from Sales of Securities. This lists all funds, units, proceeds from sales, average cost and gain (loss). I was told that the total proceeds and average costs need to be entered on Schedule 3 / Section 3 line 131 and 132. The net on line 132 is then used to calculate the total capital gains (or loses) for line 197. Line 176 pulls in data from the the T3 Statement of Trust Income. The top of the T3 lists the Product Description (Funds) and an apparent summary showing Capital Gains, Eligible Dividends, Ineligible Dividends, Foreign Non Business Income, Foreign Non-Bus. Income Tax Paid, Other Income and Return On Capital. This appears to be a summary of the Client Tax Statement but I can't see a correlation.

 

So I have entered the T3 information with no problem; but am wondering about how to enter the information from the Client Tax Statement. For Schedule 3 lines 131 and 132.

 

Ufile does have a Capital Gains form where you can enter description of stock or property, shares, proceeds, adjusted cost and other information. If I put the totals in from the Client Tax Statement it does display the totals on line 131 and 132 but I don't know if I have to create a form for each fund or just put in the totals. Maybe time to see an accountant.

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If you were actively trading stocks yourself (and didn't just buy shares of a fund managed by CIBC) then yes, you will need to enter the information regarding each trade on Schedule 3. If you're still not sure whether this is really your case, you would need to call CIBC to be sure.

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