Took a loss in my T5008, but Studio Tax is reporting Investment Income from this. Is this right?

Question

Some of my securities I made money on, but others I lost money on. I took a loss when it was all totaled up. Here are my totaled loss values:

Cost or Book Value (Before Adjusted Base Cost): $-256.64
Proceeds of Disposition or settlement amount (after ABC): -$214.30

Somehow, Studio Tax is reporting an investment income of $133.01. I don't understand where this calculation is coming from and why it's even reporting income. Is this an error? Or can somebody explain this one to me?

Answer 1

You can't have a negative ACB or a negative proceeds of disposition. Perhaps that is your problem.



You could try entering the information on Schedule 3, rather than the T5008.



Also, it's ACB (Adjusted Cost Base).

Answer 2

Studiotax