Calculating my dad's capital gains for tax purposes. Can i just use his T5008 from the brokerage and do green circle minus red circle and then add up the answers? Or do i literally need to enter all hundreds of his buy/sell transactions into adjustedcostbase.ca?

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Anonymous Mon Mar 2 14:20:42 2020 No.17539110 [Reply] [Original]

Calculating my dad's capital gains for tax purposes.

Can i just use his T5008 from the brokerage and do green circle minus red circle and then add up the answers?

Or do i literally need to enter all hundreds of his buy/sell transactions into adjustedcostbase.ca?

>>	Anonymous Mon Mar 2 14:21:45 2020 No.17539122 >>17539110 > autodesk boomer alert

Anonymous Mon Mar 2 14:34:17 2020 No.17539295

>>17539110
Read the information on the IRS website regarding forms 1040, 1040 Schedules B and D, and forms 8949.

The gist of it is it depends on how much he actually made or lost as well as whether or not his brokerage firm sent a copy to the IRS of his basis, which they most likely should have if they're reputable.

Anonymous Mon Mar 2 14:41:02 2020 No.17539382
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>>17539110
anyone ever experience fuckery with Cryptotax io? It says my account has -6,209 POE and yet my entire history with the coin is pic related. I should have a zero balance...

Anonymous Mon Mar 2 15:39:05 2020 No.17540323

>>17539110
this is so fucked up and confusing.

looking at the costs and proceeds on my "investment income trading summary" (which does not use the adjusted cost base) i get capital gains of around 6445

looking at the costs and proceeds on my t5008 (no idea if this uses adjusted cost base) i get capital gains of around 26378

looking at the "Gain & Loss" tab on the online brokerage (which supposedly does use adjusted cost base), i get capital gains of 22403

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