# I'm confused with T5008 issue.



## DeLorean (Mar 20, 2016)

I'm preparing for Tax Refund for 2015. I received T5008 statement from TD Canada Trust. I put it into Turbo Tax the other day. Turbo Tax said that the cost of tax refund was minus. I realized that actual original principle isn't shown on T5008.

I sold my mutual fund to change the bank from TD to Manulife. T5008 said that the money(PROCEEDS) I received after selling and cost(COST) to buy fund. But the "COST" in the statement doesn't say about all original principle but the COST in 2015. I guess that's why the PROCEEDS became too big and tax became higher.

In this case, I have to pay way too much higher tax to government. How can I avoid this problem? and How can I show tax office correct original principle?

Please give me advice. Thanks in advance.


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## AltaRed (Jun 8, 2009)

I don't understand your use of, I assume, TD terms. But I will surmise the T5008 only shows the sales proceeds, but not the original cost of the fund, i.e. its Adjusted Cost Base (ACB). The cost of the mutual fund is the capital you put into it, plus any fee you paid (if any) to buy the fund which is the ACB. It is up to you to input the ACB from your record keeping into the Acquisition Cost box in TurboTax (the result of which shows up on Schedule 3)


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## BC Eddie (Feb 2, 2014)

Yes I agree with /\. I think you need to input your ACB into Box 20.


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