TAX FILING FOR INVESTORS
Accurately claim your investments on your taxes
Get the help you need to file your taxes right no matter what kind of investment you have, including stocks, bonds, Airbnb, rental properties, ETFs, dividends, and cryptocurrency.
What do investors need to know about doing taxes?
The right tax details for every investment
Taxes can be complicated. Investment income comes in many different forms, including capital gains, dividends, interest, foreign properties, or rents. No matter your investment profile, we’ve got you covered.
Reporting capital gains and losses
Whether you make a capital gain or loss when you sell your investment, you must report it on your tax return to the CRA. We guide you through every step of that process.
RRSP deductions, rental and investment write-offs, and more
Deductions and credits on your investment income can help lower your tax bill. We search 400+ credits and deductions for you so you get every dollar back.
Why investors file their taxes with TurboTax Premier
Includes reviews for TurboTax from previous years.
How to file your taxes as an investor
Rental income is included in all TurboTax Self-Employed products
Tips for investors from TurboTax Hub
Frequently asked questions on investor tax filing
Investments, also known as capital property, come in different forms, including stocks, mutual funds, bonds, ETFs, cryptocurrency, land, real estate, and more.
If you earn interest, capital gains, or dividends income from your investments, you have to report these amounts as investment income to the Canada Revenue Agency.
The amount of tax you pay on your investments depends on your total annual taxable income and where you fall in the federal and provincial tax brackets for a given tax year.
- You are taxed on 50% of your total capital gains.
- Your dividend income gets added to your taxable income.
- Eligible dividends vs non-eligible dividends are taxed differently based on the gross-up rate. The gross-up rate is 38% for eligible dividends and 15% for non-eligible dividends.
- You may be eligible for the Dividend Tax Credit, a non-refundable tax credit that reduces the amount of tax you owe.
- Interest income is 100% included in your income and is taxed according to your tax bracket.
- Rental income after deductible expenses (net rental income) is added to your income and taxed according to your tax bracket.
Depending on the type of investment income you’ve earned (e.g. capital gains, interest, dividends), you would report them on one or more of the following tax forms:
- T5 - Statement of Investment Income
- T3 - Statement of Trust Income Allocations and Designations
- T5008 - Statement of Securities Transactions
- T5013 - Statement of Partnership Income
- T4PS - Statement of Employee Profit-Sharing Plan Allocations and Payments
- T4RSP - Statement of RRSP Income
- In Quebec: RL-3, RL-16, RL-15, RL-18
You also have to report investment income not included on a CRA slip such as; sale of land, sale of personal-use property, RRSP contributions, rental income or foreign investment income.
How you report your stocks on your tax return and how much tax you pay on them depends on whether you’re a day trader or investor.
If you’re a day trader, 100% of your profits will be considered business income, and taxed at your current tax rate.
If you’re an investor, your stocks are considered investments and only 50% of the capital gain you “realize” when you sell your stocks is taxed.
With TurboTax Live Assist and Review, Premier, you get unlimited help and advice from a live tax expert, plus a final review before you file.
Investment property, which is a form of capital property, is real estate used to earn income either through renting it out, selling it in the future for a profit, or both.
In Canada, you have to pay capital gains tax when you sell an asset you invested your money in for more than what you bought it for. Your capital gains are only realized and taxed when you sell the asset.
For example, if you bought stocks for $50 a share and after a few months you sell them for $52 a share, the $2 profit is considered a capital gain.
There are a few strategies you can try to reduce your capital gains tax including:
1. Use capital losses to offset your capital gains
2. Invest through a tax-advantaged account like a TFSA
3. Sell your assets when your income is low to minimize the tax your pay
* Important Offer Details and Disclosures
TURBOTAX ONLINE/MOBILE OFFERS & PRICING
The following TurboTax Online offers may be available for tax year 2024. Intuit reserves the right to modify or terminate any offer at any time for any reason in its sole discretion. Unless otherwise stated, each offer is not available in combination with any other TurboTax offers. Certain discount offers may not be valid for mobile in-app purchases and may be available only for a limited period of time.
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