Question

My T5008 shows reinvested dividends-drips so do I still need to enter it if that div$ already reported w/ T5? No cap gain/loss-only reinvestment. Box 21&22 are blank.

Forum|Forum|2 years ago
April 28, 2023
1 reply
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No Box 19 either but shows $ amt reinvested to buy more shares. This $ amt is less than the total dividend $ rec'd & declared on T5. If I still have to enter T5008, do I just leave Box 20&21 blank?

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ryan_ri

Hello, we appreciate your questions. Alternatively, we suggest reaching out to your issuer and requesting a schedule of realized gains/(losses) statement for the 2022 calendar year.

Reporting the summarized values on the aforementioned statement will ensure all your dispositions pertaining to the investment account is accurately accounted for. If these shares were acquired by way of re-investment it does not have personal income tax implications, it will only affect the cost base value that will be relied on whenever you do dispose of these shares in the future. Entering the slip will not be problematic or have any personal income tax implications.

R

rodmacdonald

I have the same issue. On my T5008 it shows 4 dividend (DRIPS) amounts related to one stock and another 4 for another stock, I have some questions about this I can't find the answers to anywhere. Help?

1. I've read I can just total the share and value amounts for each of the two stocks and use Dec. 31 as the date for both. In which box do I put the total value of these dividends? In box 19 (Face Amount)?

2. Do I check "Capital Gain" or "Investment" under Box 19?

I want to report everything but I don't want to be taxed twice as everything seems also to be on my T5. And I think I might have read that entering $amounts in Box 20 or 21 can cause a problem if it's just a reinvested dividend.

Thanks for any help!!!

TurboTaxSusan

@rodmacdonald

If you want to put multiple T5008s for the same stock together, then you can enter the totals of each box # onto one slip. Use Dec. 31 as the date, and the type would be Capital Gain.

Your T5s are likely for the dividends that you have received and so they would need to be entered too.