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How to fill out Capital Gains Details in Simpletax for eTrade Orders

Intro

This is not financial advice, YMMV, use at your own risk, I assume no responsibility for the correctness or outcome of the usage of any of this information.

What we are Filling Out

We need to fill out three boxes in SimpleTax:

Proceeds is how much we made on selling the stock, ACB is how much it cost us to acquire it including any fees charged on acquisition, and Outlays are the fees charged upon selling the stock. It looks like in eTrade there are only apparent fees on selling the stock.

How do we Compute these Values

For each individual trade that was made in eTrade, there is a row in SimpleTax under "Capital Gains (or Losses)" section.

First, login to eTrade, go to the employer account in question. The information below is mostly from "My Account->Orders" and "My Account->Gains&Losses". Under each of these, you will need to select and Apply the tax year in question.

For each row in SimpleTax (trade, transaction, order, insert-proper-term-here), this is how to get the needed values:

  • Get the Purchase Date from the Stock Plan -> My Account -> Orders -> "Purchase / Grant Details -> Purchase Date" field

  • Get the Purchase Date Exchange Rate for the Purchase Date from [Bank of Canada Rates](Select whole year custom date: https://www.bankofcanada.ca/rates/exchange/currency-converter) for the date in question.

  • Get the Sell Date from the Stock Plan -> My Account -> Orders -> "Order Date" field.

  • Get the Sell Date Exchange Rate for the Sell Date from [Bank of Canada Rates](Select whole year custom date: https://www.bankofcanada.ca/rates/exchange/currency-converter) for the date in question.

  • To get Proceeeds: Stock Plan -> My Account -> Orders -> Tax Year in Question -> Select the Order in Question. Under "Disbursement Details", take "Est. Gross Proceeds" and convert to CAD with Sell Date Exchange Rate.

  • To get Outlays: Stock Plan -> My Account -> Orders -> Tax Year in Question -> Select the Order in Question. Under "Disbursement Details", get "Commission" and "SEC Fees", add them, and convert to CAD with Sell Date Exchange Rate.

  • To get ACB: Stock Plan -> My Account -> Gains & Losses -> Tax Year in Question -> Select the Order in Question, take the value of the "Adjusted Cost Basis" Box. Convert to CAD with Purchase Date Exchange Rate.

More Information

Capital gains/losses box in question: [https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-127-capital-gains.html]

Definitions [https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-127-capital-gains.html]

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