# Entering capital gains into Genutax



## ozaline (Mar 26, 2016)

Here is the screen I'm looking at: i.imgur. com/ S69NVIm.png (link broken because the site won't let me enter a link)


So I did purchase these at multiple times, and have done the calculations to figure out the adjusted cost base, and what the capital gains actually were... I just don't know what to put in for the date (clicking help just takes me to the CRA's page on capital gains), the program requires that I do enter a date so I've just put in the date of the last sale I made as a placeholder... what should I enter?


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## Eclectic12 (Oct 20, 2010)

I can't see the link but if you mean Schedule 3, Part 3 "Publicly traded shares, mutual fund units ... ", column 1 is "Year of Acquisition". I put in there the earliest date that particular stock was bought.

Here is a link to allow you to download a PDF showing Schedule 3.
http://www.cra-arc.gc.ca/E/pbg/tf/5000-s3/README.html


Cheers


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## AltaRed (Jun 8, 2009)

In a case of multiple purchases and/or multiple sales, I agree with Eclectic12. Put in the date of your earliest acquistion and the date of your latest sale to cover the range. The T5008 on the CRA site will show all the transactions for the year, but it does not matter. CRA simply wants to know you are reporting the cap gains on Schedule 3.

P.S. Be aware of superficial losses if you have done multiple buys/sells, and in particular buying the same stock within 31 days of a cap loss....in which case the loss cannot be taken.


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## ozaline (Mar 26, 2016)

AltaRed said:


> In a case of multiple purchases and/or multiple sales, I agree with Eclectic12. Put in the date of your earliest acquistion and the date of your latest sale to cover the range. The T5008 on the CRA site will show all the transactions for the year, but it does not matter. CRA simply wants to know you are reporting the cap gains on Schedule 3.
> 
> P.S. Be aware of superficial losses if you have done multiple buys/sells, and in particular buying the same stock within 31 days of a cap loss....in which case the loss cannot be taken.


Okay the program only asks me what day I acquired it on, it doesn't ask me to put in a second date for the last sale. 

I'm also filing multiple years, and have only done the first year in which I sold stocks so far, so in later years would I go back to the beginning of the the first purchase, or do I kind of have to figure out where I'd stand if it was FIFO?

For reference this is through an employee program, but I get it at FMV (with them contributing an extra bit) so I have a purchase every two weeks.


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## AltaRed (Jun 8, 2009)

Schedule 3 has spaces for an acquisition date and a sales date. I had no idea you were messing around with multiple years of tax returns. Never could figure out why people get themselves into this box.... Okay, off my soapbox.

I guess in your situation, it would sort of be a case of FIFO. Just make sure on your 2010 return, you have a sales date in 2010 (to use an example). It is less important to get dates perfectly right as it is to get the cap gains calculations right.

I presume you are using something like adjustedcostbase.ca to manage your ACB's for these sales? It can get complicated with multiple buys and multiple sales each and every year.


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## ozaline (Mar 26, 2016)

AltaRed said:


> Schedule 3 has spaces for an acquisition date and a sales date. I had no idea you were messing around with multiple years of tax returns. Never could figure out why people get themselves into this box.... Okay, off my soapbox.
> 
> I guess in your situation, it would sort of be a case of FIFO. Just make sure on your 2010 return, you have a sales date in 2010 (to use an example). It is less important to get dates perfectly right as it is to get the cap gains calculations right.
> 
> I presume you are using something like adjustedcostbase.ca to manage your ACB's for these sales? It can get complicated with multiple buys and multiple sales each and every year.



Yes I'm using adjustedcostbase.ca once I've got everything plugged in the actual math to figure out what the capital gain is isn't hard I'm fairly sure I did that part right (though plugging in five years worth of weekly transactions is super tedious), but I've done it up until the first years worth of sales.

Just to make sure I'm not making a bone headed mistake 

so if I sold 38 shares the capital gain would be... Ammount I sold the shares at - ACB at the time I sold the shares *38.... so if I have multiple sale dates I just need to do Total sold - (ACB date 1 * shares) - (ACB date 2 * shares). That part is easy I just can't figure out how to put more than one date into genutax.

Maybe I should just e-mail them, but thanks for the help so far.

And yeah I'm never gonna get in this position again, I left it in the first place because I was intimidated by this capital gains stuff.


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## Eclectic12 (Oct 20, 2010)

AltaRed said:


> Schedule 3 has spaces for an acquisition date and a sales date.


Schedule 3 has a sales date? Where?

CRA's PDF in the part 3 section has columns for "number", "name/class", "Year of Acquisition", "Proceeds", "ACB", "Outlays and Expenses" then "Gain (or Loss)". The only dates I see are the "before" and "after" dates in part two "Qualified farm and fishing property".

By definition, one has to have sold the stock in the current tax year so why would they need the sale dates when the T5008 already is reporting the sales dates?


Or did I miss something?
I have never entered a sales date on Schedule 3.




AltaRed said:


> I guess in your situation, it would sort of be a case of FIFO ...


If I still hold some stock acquired in say 2001, then I use an acquisition date of 2001. If I sold everything in 2006, then bought again in 2007 - then 2007 becomes the new acquisition date for future sales. So far, no issues ... though I do make sure to check/re-check the ACB.


Cheers


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## AltaRed (Jun 8, 2009)

Eclectic12 said:


> By definition, one has to have sold the stock in the current tax year so why would they need the sale dates when the T5008 already is reporting the sales dates?
> 
> 
> Or did I miss something?


No, you did not miss something. I have been having brain farts lately. I agree the T5008 automatically determines there has been a sales date in the tax year. No idea what I was thinking, nor why. I have an entry or two in Schedule 3 every year myself. My apologies for the distraction.


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## Eclectic12 (Oct 20, 2010)

*whew* ....

Having done similar, no worries.

Some years I have zero Schedule 3, part 3 entries as nothing was sold, some there are three or so and if I recall correctly, one year I have about fifteen.


Cheers


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## ozaline (Mar 26, 2016)

Okay so I don't have to worry about entering sales dates then? Just enter in acquisition date, and so if I sold 50 shares in 2012, then the acquisition date I enter in for any sales in 2013 would be when I purchased above 50 shares?


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## AltaRed (Jun 8, 2009)

ozaline said:


> Okay so I don't have to worry about entering sales dates then? Just enter in acquisition date, and so if I sold 50 shares in 2012, then the acquisition date I enter in for any sales in 2013 would be when I purchased above 50 shares?


There is no entering of sales date...as Electic12 has pointed out. What you use for acquisition date depends on how many shares you bought and sold when. If you bought 100 shares in 2010 and another 100 shares in 2011, then if you sold 50 shares in 2012, I would use 2010 as your acquisition date (earilest of shares bought). If you sold an additional 50 shares in 2013, I would stll use 2010 as the acquisition date. If you sell another 50 shares in 2014, I would say your acquisition date is now 2011...since you sold all your 2010 shares already. That would be the concept of FIFO.... even though from a cap gains perspective in Canada, there is no such concept as FIFO. The point being is you can only use one acquisition date on Schedule 3, so you have to pick something that makes sense.

But remember your ACB takes into account all shares you own at the time, so be careful with that. Your ACB in the example above is the weighted average of all shares bought in 2010 and 2011.


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## Eclectic12 (Oct 20, 2010)

No sales date info is needed as there is no where to enter it on Schedule 3.

As for using an acquisition date ... as long as I have one share left from the earliest year of buying, that is the year I report. 

The ACB is meshing all of the buys to the sale date, across as many taxable accounts as one holds the same stock in. Using a date other than the date of the first shares bought in the batch that was sold looks to me that it might trigger flags for review versus the longer time frame.


Cheers


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## ozaline (Mar 26, 2016)

Eclectic12 said:


> No sales date info is needed as there is no where to enter it on Schedule 3.
> 
> As for using an acquisition date ... as long as I have one share left from the earliest year of buying, that is the year I report.
> 
> ...


Okay thanks, again I was just checking cause Genutax doesn't want just a year it wants a date down to the day. So for the first year I put in the first day I ever bought any of these stocks... I had four sales (all of the same security) but I mashed them together, should I put it as four separate entries though it's the same security? 

And yeah so say I sold 108 stocks in 2012... for next year 2013 I'd use the date that I purchased my 108.001th stock?


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## Eclectic12 (Oct 20, 2010)

ozaline said:


> Okay thanks, again I was just checking cause Genutax doesn't want just a year it wants a date down to the day.


Weird I use Ufile and I forget what software before that ... it only wanted the Year, same as the CRA link's Schedule 3 PDF.




ozaline said:


> ... So for the first year I put in the first day I ever bought any of these stocks...


If it is insisting on it ... I guess so.





ozaline said:


> ... I had four sales (all of the same security) but I mashed them together, should I put it as four separate entries though it's the same security?


It is up to you ... though, another poster was identifying that their tax software only let them put thirty entries into Part 3 where there was something over forty individual stocks.

Others have posted that they put into the tax return based on each stock (i.e. four sales of BCE where one line item for BCE is reported on the tax return for the net CG, two sales for TA where one line item does all the TA sales). If you go this route of consolidating the details, be sure to have a spreadsheet of the details or other backup info. If CRA asks for info, reminding yourself from a backup document is a lot easier/less stressful than having to reverse engineer how the reported number was arrived at.




ozaline said:


> ... And yeah so say I sold 108 stocks in 2012... for next year 2013 I'd use the date that I purchased my 108.001th stock?


As long as "stocks" really means "shares of the same stock" ... then yes.


Cheers


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