r.huang3 Posted March 14, 2023 Report Share Posted March 14, 2023 Hi! I have a situation where I have a capital loss in 2022 from virtual currencies. I completed Schedule 3 and ended up with a negative amount on line 15199 and 15300. Do these error/warning messages need to be fixed? or should I just mail in my return since it says NETFILE does not accept negative amounts on these lines? There are around 60 error messages since I entered 60 negative amounts. How should I approach this? Did I input my losses correctly? And if so, should I just mail it in? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 15, 2023 Report Share Posted March 15, 2023 Hello r.huang3, Total proceeds should be greater than $0.: Virtual currency transactions Number of units sold Date of acquisition (dd-mm-yyyy) Date of disposition (dd-mm-yyyy) Method of alienation Total proceeds from the sale of the property < - - - Enter proceeds of sale Adjusted cost base of the property < - - - Enter ACB related to the sale Quote Link to comment Share on other sites More sharing options...
r.huang3 Posted March 27, 2023 Author Report Share Posted March 27, 2023 @Geo123 Thanks for your reply. If I enter total proceeds to be greater than 0, then how and where do I enter a loss on sale of the digital currency? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 28, 2023 Report Share Posted March 28, 2023 Hello r.huang3, It is calculated by UFile. Quote Link to comment Share on other sites More sharing options...
r.huang3 Posted March 28, 2023 Author Report Share Posted March 28, 2023 @Geo123 Would you know how UFile calculates that? because how do they know how much you bought it for? There isn't a box to enter the acquisition price. Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 29, 2023 Report Share Posted March 29, 2023 Hello r.huang3, Acquisition price = Adjusted cost base of the property < - - - Enter ACB related to the sale FYI - an example : You have a capital gain when you sell, or are considered to have sold, a capital property for more than the total of its ACB and the outlays and expenses incurred to sell the property. Example In 2022, Mario sold 400 shares of XYZ Public Corporation of Canada for $6,500. He received the full amount of the proceeds of disposition at the time of the sale and paid a commission of $60. The ACB of the shares is $4,000. Mario calculates his capital gain as follows: Proceeds of disposition $6,500 Adjusted cost base $4,000 Outlays and expenses on disposition + $60C = $4,060− 4,060 Capital gain (line A minus line D) = $2,440 https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4037/capital-gains.html#P279_29831 Quote Link to comment Share on other sites More sharing options...
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