How do I enter T5008 and T5 in the T2 return for my corporation?

Question

700 viewsFebruary 22, 2024

0

ericjava 12 Posted February 21, 2024

Hi Allan,

I received T5008 and T5 slips from my bank for dividends/income earned in my corporation name/ account?

I invest the surplus cash from my business in a trading account under my business.

How do I enter them in my T2 return. I used Turbo tax software.

Thank you
Eric

1 Answer

score 0 · Answer 1 · 2024-02-22T22:37:22+00:00

Hi Eric,

Report dispositions of capital property (including securities) on Schedule 6 of the T2 corporate tax return. In addition to this, report dividends received on Schedule 3 of the T2 Return. Lastly, complete Schedule 7 of the T2 Return to report all investment income, including capital gains, interest and dividends. Remember to complete the GIFI Schedule 125 for all sources of income.

How do I enter T5008 and T5 in the T2 return for my corporation?

1 Answer

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