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I have too many T5008s to import through Auto-fill, what should I do?

If you have more than 25 T5008 slips, it’s much easier to use the Capital Gains & Losses section to report your dispositions. Accordingly, we will not import them through Auto-fill for you.

In the Capital Gains & Losses section you could add one row for each disposition, but we recommend aggregating your transactions and reporting your gross proceeds, gross outlays, and gross ACB on one row for each T5008 Trading Summary you received from your broker or advisor.

Usually, your broker will send you a T5008 Trading Summary rather than individual T5008 slips. To complete the Capital Gains & Losses section:

  • your proceeds of disposition are the amount from box 21, and
  • your adjusted cost base (ACB) should be similar to the amount in box 20 (it’s your responsibility to track your ACB and enter the correct amount in box 20; if you aren’t sure, contact your advisor or broker).

Note: Only aggregate amounts (total proceeds and total gain/loss) are transmitted through NETFILE. If you have detailed records of your capital transactions (e.g., on your T5008 Summary) you do not need to enter each transaction in Wealthsimple Tax. Keep your records on file in case the CRA asks for more information.

This post applies to 2017 and later versions.