2023 Taxes: Capital Gains/Losses - Schedule 3 T5 ,T4PS

[Mark2025]

Is there a bug in UFILE? When inputting T5s in the INTERVIEW tab - these totals in UFILE do not automatically roll up to SCHEDULE 3.  Especially if you have a capital loss from a T5008 that shows losses.

I checked with CRA today on the phone and they said all T5s in the current tax year should roll up - total to Line 17400 in Schedule 3 so that any LOSSES can be APPLIED to Gains from  Line 17400

**** How do we override UFILE in Schedule 3 to input the totals that the CRA help desk insists should be reported in line 17400?

Here is the official note on the CRA website:

T4PS	Box 34, Capital gains or losses	Line 17400	See note 2
T5	Box 18, Capital gains dividends	Line 17400
T5013	Box 151, Capital gains (losses)	Line 17400

 

[Geo123]

Hello Mark2025,

Net Capital Loss (Stocks etc)

Is calculated automatically based on the entries in the section : “Investment and interest income and expenses”.  NOTE - When you have a net capital loss, line 12700 remains blank. However, under the "Tax Return" tab in the program, capital gains and losses are shown on Schedule 3. The same principle applies to Quebec.

A capital loss will automatically be carried forward to the following year by the program, if not applied to a capital gain.

As per the CRA's website: "On line 12700, enter the positive amount from line 19900 on your Schedule 3. If the amount on line 19900 on your Schedule 3 is negative (a loss), do not claim the amount on line 12700 of your tax return. We will register it on our system. Keep track of this loss, which you can use to reduce your taxable capital gains of other years."

The CRA, and Revenu Québec if applicable, will report net capital gains/losses on the Notice of Assessment after reviewing your tax return.

For more information, please refer to the CRA website:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-127-capital-gains/calculating-reporting-your-capital-gains-losses.html

[kard]

2023 Ufile did not generate a Schedule 3. I have capital gains and would like to offset with unused capital losses of other years. I input the carry forward information from my 2022 assessment, and also input T3s and T5s and yet a schedule 3 was not generated and therefore taxable capital gains does not appear on line 12700. Am I missing a step or is there a glitch? I always have a schedule 3 and have used ufile for many years.

[Geo123]

Hello kard,

Please review your data entry.  There are no issues reported with schedule 3 or C/F. 

Otherwise please contact UFile Support so we may review the file confidentially. Please include above note.
Please open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us