Splitting investment incomeThe program splits investment income between spouses, as long as you prepare both returns together.
To do so, please follow the following procedure:
1 - On the left side menu of the " Interview " tab, select the item "Interest/investment income and carrying charges";
2 -On the screen to the right, choose the option "T3 - Trust Income (RL-16)", "T5 - Investment Income (RL- 3)" or "T5008 - Statement of securities transactions " these are the only options on which a transfer between spouses is possible;
3 - On the line " When the income relates to a JOINT account, enter your percentage share of the income recorded on this slip" enter your percentage (%) and on the line "Do you want to transfer the remainder to your spouse's tax return (if applicable)", click on the drop down menu and make your selection.
4 - The program will transfer your spouse's share to the investment income on your spouse's tax return.It should be noted that if you have an account with someone other than your spouse, you can enter your percentage share: the program will consider the percentage of your share only.
ID: 20211103101834CA.xml
Webpage: KPA390-20211103101834CA.htm