Investing

T5 form from Questrade?

  • Last Updated:
  • Mar 20th, 2022 4:36 am
[OP]
Newbie
Mar 18, 2022
1 posts

T5 form from Questrade?

T5 info on the bottom of the T5/NR4 page, since it has a little T5 heading, but the number codes don't match with the income tax form in Canada. The codes are 0, 5, 3A, 3B and 6A . How to claim Tax?
Last edited by Majya1688 on Mar 20th, 2022 10:16 pm, edited 1 time in total.
4 replies
Deal Fanatic
Jan 21, 2018
8418 posts
9265 upvotes
Vancouver
Check your CRA account online to see what T5 information has been submitted there. If you still don't understand it, call Questrade and ask about it (better than the CRA - they wouldn't be helpful). Look up the box codes online to see if that clarifies it.

In the end you are responsible for submitting the tax info you think is correct, so if necessary you can manually enter the T5 info the way you think it should be.
Deal Fanatic
Jul 12, 2008
5731 posts
1898 upvotes
GTA
Compare what you got this year to other years as well to see what might be different, if the T5 is wrong though then Questrade has to correct it or CRA will use it as the correct amount
Deal Fanatic
Jan 21, 2007
5151 posts
2665 upvotes
Scarborough
Majya1688 wrote: Thank you for you reply. I got feedback from my friend who said I don't need to claim tax because the interests (dividends) are under $50. The questrade only gave the person with statement/summery.
Yeah...that's wrong. Since it's under $50, there's no requirement to issue you a T5 but you still have to report it. Whether or not the CRA will notice or care is another story.

Regarding your original question, I had a similar issue with Questrade a couple of years back. I just did something similar to what this post on Reddit said. Just added a new T5 in the tax software I was using and filled in the boxes corresponding with what's mentioned in this post:
https://www.reddit.com/r/PersonalFinanc ... x/gpmcc4w/
Deal Addict
User avatar
Feb 1, 2012
2085 posts
3524 upvotes
Thunder Bay, ON
Majya1688 wrote: Thank you for you reply. I got feedback from my friend who said I don't need to claim tax because the interests (dividends) are under $50. The questrade only gave the person with statement/summery.

Here is the CRA requirement for reporting income under $50:
https://www.canada.ca/en/revenue-agency ... ncome.html
CRA wrote:You may not receive a T5 slip if the investment income is less than $50, but you must still report this income.
When I was young, I was poor. Now, after years of hard work, I'm no longer young.

Top