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Inputting Stock info correctly


MG77
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I did some trading and need to input the correct info but I am a little confused on what is required for each category. 

 

Example

Description Stock: A

Number of Shares Sold: 100

Total Proceeds from the shares: 200

ACB: 150

Is this considered a gain of $50, but I do not understand where to factor in brokerage trading fees. I'm with TD and they charge 9.99 per trade.

Do I add my brokerage fees to the proceeds of sale or Adjusted cost basis?

TD gave me a T5008 but I'm not sure how accurate it is as I have heard it is better to use my trading summary instead. The T5008 they issued though looks like they add my trading fees to the Proceeds of the disposition. 

Is this correct? Is it okay to just use the T5008 issued from my broker? Any issues if I just use this?

Thanks for any guidance!

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It is always better to use the T5008, as these are the slips that are shown on the CRA My Account. If you pre-fill, they will be downloaded. Make sure that box 20 (ACB) is not empty. Manually add the aCB from your records, if needed.

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Hello MG77.

You should enter the data using the T5008 data entry from the Investments section. It would be better to use the amount indicated as Proceeds as it is. But for the ACB you need to determine that from your records. The broker fees at purchase should be added to the cost and are part of the ACB.

Using the T5008 data entry will help prevent CRA from later reassessing and stating you didn't report income from a T5008.

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Thanks for your response. I downloaded the T5008 on CRA and it is all autofilled. The sale of disposition though is incorrect for some of the securities. I purchased a few a Call Options and they ended up expiring worthless. For some reason it shows at quite high and not a value of 0.

 

Anyone know why expired call or put options do not show as a value of 0?

 

Can I just correct the sale of disposition and use zero instead?

Also just to confirm, I should add in my broker fees ONLY to my cost and not proceeds?

 

I also don't understand whsy TD has issued me two slips for the same security even though I bought and sold the whole thing in one trade. 

Example

Buy 500 shares but my T5008 shows

Sale 350 shares

Sale 150 shares 

They both have  the exact same price per security but TD split it into two. Would I have to go in and split the trading fees on both the slips as well?

Thanks

 

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