wendita
New Member

Does Turbotax adjust gains using T5008 cost base information? I can only see disposition totals.

I'm trying to verify that TurboTax calculates the imported Questrade T5008 slips correctly (with the Cost Base value Box 20) to make sure the software isn't over-calculating gains.
In the Income Summary in Turbo Tax, I see the sum of the dispositions (box 21) under the Investments line, but I don't see the corresponding deductions (box 20) anywhere else in the software, or in the losses summary. From what I can see, it appears as if the dispositions were accounted, but not the cost base.

Does anyone else use Turbo Tax? Do I just "trust" that this is right or do I have to manually enter the slips using the adjusted gain (i.e. disposition less cost base).

Thank you in advance for any help, it's my first time trying to do this