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CharlesF

Donated securities

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I donated securities to a charity.  The brokerage sent me a t5008 showing the value of the securities as disposition.

I gather that I need to set the Inclusion Rate to zero for that capital gain; where do I do that in Ufile???

Thanks

CharlesF

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I have the same problem. The inclusion rate is on the T1170, not the t5008. The problem if both slips are in your return is that 50% of the cap gain gets added into income, which it should not be. The only way I could get UFile to properly do this was to delete the t5008. I've done this for the past several years without problems. Line 127 should be zero if the only cap gain was from donated securities as best I can tell. Deleting the t5008 in UFile accomplishes this. Do not include the securities donation amount in the interview section on charitable donation. Otherwise it will show up twice on Sched 9... once from the T1170 and once from the tab in the interview. Using a T1170 automatically adds it to Sched 9, and shows zero inclusion rate.

Is TD Waterhouse your brokerage by any chance?  I've heard some other brokerages don't send T5008s for donations, but TD does.

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Yes, I am with TDW!

It took me a long time to figure out how to get Ufile to present a T1170!  Once I achieved that, then I deleted the corresponding t5008.  Info showed up in the  sched with zero inclusion rate, but no way to indicate which charity it went to. 

Glad to hear it worked for you in the past.  Keeping my fingers crossed!

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