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Amount of data is too large for T5008


glennegould

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"Unable to retrieve T5008 (Statement of Securities Transactions) tax slip information: the amount of data is too large. It must be entered manually."

This worked fine last year and needs to be maintained. The T5008's are created with no data and it indicates I have to enter them manually. That's not going to happen. I found another tax program that has no problem including all my data.

Will this be fixed soon?

 

 

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Hello glennegould,

Please be advised that for that purposes of downloading your T5008 slips for this tax season we have implemented a maximum download of 50 - 55 T5008 slips. This is due to the very heavy volume load, and the T5008 slips may be incomplete. Example: missing the ACB /cost/book value.Errors may also arise due to downloading of corrupted records, example, null entries.

 

Our recommendation is to enter only one entry manually from your recap report or the Capital gains realized report you receive from your broker.Please note that it is not necessary to download all your T5008 slips. One manual entry of the total amount showing the Proceeds of disposition and the cost / book value is sufficient.Note that even if you download all the T5008 slips, only the total amount is sent to the Canada Revenue Agency (CRA) and if applicable Revenu Québec. The government agencies have already received copies of these slips and it is not necessary to itemize them in the software.Thank you for your understanding. 

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Okay, thanks for your response. This makes sense.

In the end it did not matter anyway because all the data that I actually needed was downloaded. There were a number of blank T3's and I'm not sure why the financial institution provided them to the CRA. Regardless, I'm satisfied that I got the correct result because it was verified by another source.

Thanks again.

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