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Cindy113
Level 1

T5008 error

I entered information on a T5008 slip and completed the taxes and sent them in. Then it was noticed that I put all the information in the boxes opposite of what they should be. Therefore there were capital losses not gain. Can I refile an amended return using the losses from the year before to offset the capital gains? Or give me some advice on what to do, please. Thank you!

 

3 Comments
kozakworld
Level 3

T5008 error

Yes, the best way to address this would be to re-file the return with the boxes filled in correctly. 

 

As a representative, log into the Represent-a-client web portal to verify that the submitted return has been assessed.  As long as it is already assessed, you should be able to immediately re-file the correction.  If there is a delay in it being assessed ie:  selected for pre-assessment review, then you should wait until it has been assessed before submitting the re-file with the correction.

 

Hope this helps.

Cindy113
Level 1

T5008 error

Thank you. That  is what I did and it went through..

kozakworld
Level 3

T5008 error

I didn't mention in my post that the T183R needs to be signed by the client before you re-file the adjustment.  I assume you already knew that and had it signed, at least hope that's the case.

 

Have a great tax season!  :)