Taxpayer2023

Hello Geo123, I did and they were not able to see why box 38 was entered in a Capital Gain tab in Ufile. They referred me back to UFile support since this is a question regarding the UFile interface. Thank you for your help in explaining this

Thank you for your reply Geo123. However, your reply seems to simply indicate how to enter the information from T4 box 38, 39 and 41 in the UFile T4 tab. My question is rather to try to understand why we enter box 38 information on the Capital Gain tab. What does it do? I see the last part of your reply but I don't understand what you mean by: NOTE is Capital Gain when sell / security option deduction >> t4 box 38 Use on Capital Gain entry ONLY if benefit not included on T4 Box 38 **

Hello! Does anyone know why we enter the T4 box 38 amount in the Capital Gains tabs under the "Stock option benefits included as employment income (T4 box 38)" field? I see the provided explanation which states "Enter the stock option benefits realized with the disposition of employee stock option shares. This amount should be entered to avoid double taxation on the benefits already included as employment income from the T4 slip or as a disposition of deferred stock option shares." However, this still does not make sense. I know for a fact that you should not enter the total amount of box 38 in each of your Capital Gains tabs as this would end up adding up as excessive loss on your Schedule 3. I was told by UFile support to include box 38 amount in only one of your stock option tabs. I am also not sure I understand 2 other fields on the Capital Gains tab: "Your percentage share of capital gain/loss recorded here" and "Capital gain taxable at 100% inclusion rate (under ITA sub-section 100(1))" Thank you for your help!

Hello Joy and Mehrdadufile, I was wondering if you were able to get clarification on your questions? I was wondering the same things. There is an amount in box 38 of my T4 and no amounts in box 39 and 41. I know for a fact that you should not enter the total amount of box 38 in each of your Capital Gains tab as this would end up addinng up as excessive loss on your Schedule 3. I was told by UFile support to include box 38 amount in only one of your Capital Gains tabs. That being said, after reading the explation bubles in UFile and the links to the CRA explanations, I can't say I really understand what that field does. In fact, the CRA website states "Box 38 - Security options benefits Do not report this amount on your tax return. This amount is already included in box 14". If anyone can help me understand this section, that would be appreciated!

Hello! I am completing the "Publicly traded shares, mutual fund units, deferral of eligible small business corporation shares, and other shares" tabs for each transaction for 2022. Under question "Stock option benefits included as employment income (T4 box 38)" should I enter for each of these tabs the amount from box 38 of my 2022 T4? If that is the case, I am wondering why UFile does not simply pre-fill this amount which I have already entered in the T4 tab.