Override Schedule 3 to avoid capital loss due to transfer in kind to TFSA/RRSP

[c113113]

My bank upload T5008 to CRA and download to UFile, however, those shares were transfer in kind to TFSA/RRSP. As such, I cannot claim capital loss (disposition < cost) but UFile automatically generate schedule 3 based on T5008? 

What should I do? any way to override the schedule 3 form to put 0 into the gain/loss column?

[Geo123]

Hello c113113,

If you are certain that the "transfer in kind" does not result in a taxable loss (or gain) then you can delete the T5008(s) in question.  You should also confim with the bank why they issued T5008(s) if there is no tax impact.

[c113113]

Thanks for your reply Geo123.

Bank probably won't delete things like this from a transaction in non-registered account that triggered a disposition. I think it better to have UFile to improve and support an enhancement, e.g. may be a check box in the T5008 form UI to indicate the disposition does not result a superficial loss (within 30days) or transfer in-kind to a registered account, then automatically adjust the loss to zero for the entry in Schedule 3.

Please help me to file an intake to the backlog as I am sure many people will face the same situation.