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What line # do I enter capital gains/losses. Bought some…

Customer Question
What line # do...

What line # do I enter capital gains/losses

Accountant's Assistant: I love the idea of making big money with investments, but there are so many things that could go wrong. The Accountant will be able to help you. Please tell me more, so we can help you best.

Bought some stock then transfered into RSSP at a lower price than I bought it but unsure where I enter it in turbo tax Premier

Accountant's Assistant: Is there anything else the Accountant should be aware of?

Have another questions, are Stock broker fees deductable

Submitted: 3 months ago.Category: Canada Tax
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4/3/2018
Canadian Tax Expert: Rachel-Mod, Moderator replied 3 months ago
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Customer reply replied 3 months ago
Need help please
Canadian Tax Expert: Rachel-Mod, Moderator replied 3 months ago
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Canadian Tax Expert: ABC Accounting Group, Certified Public Accountant (CPA) replied 3 months ago
ABC Accounting Group
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Hi. Great Question. Did you receive a 1099 B and/or sold them before you transferred the $'s over.

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Canadian Tax Expert: ABC Accounting Group, Certified Public Accountant (CPA) replied 3 months ago

Hi. Just noticed that this may be Canada tax?

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Customer reply replied 3 months ago
It is CANADA tax
Customer reply replied 3 months ago
This a CANADA tax q
Thanks
Pat
Canadian Tax Expert: ABC Accounting Group, Certified Public Accountant (CPA) replied 3 months ago

Thank you. I will transfer this to a Canada Tax Expert.

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Canadian Tax Expert: Tax.Appeal.168, Accountant replied 3 months ago
Tax.Appeal.168
Tax.Appeal.168, Accountant
Category: Canada Tax
Satisfied Customers: 4,759
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Hello. Different expert here. My name is Angela. I will be assisting you.

Q1: what line # do I enter capital gains/losses

A1: Line 127. Refr to the following link for more detailed information.

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.html

---------------------------------

Q2: are Stock broker fees deductable

A2: In brief, the answer is yes. SEE BELOW:

----------------------------------

Permitted Investment Expenses

You are permitted to include a variety of investment expenses on your return. Chatwal says some common expenses people deduct are interest charges on funds borrowed to earn investment income (and) brokerage fees to manage investments (other than RRSPs).

REFERENCE SOURCE:

https://turbotax.intuit.ca/tips/investment-expenses-permitted-by-the-income-tax-act-in-canada-6272

-----------------------------------

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