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New Member
posted Jun 6, 2019 6:04:42 AM

Can I use Canadian form T5000 for my US Tax filing? I have never lived/worked outside the US but was sent a T5000 instead of a 1099-B? Or do i need to request a 1099B?

This was for a sale of Company stock purchased with after tax dollars thru payroll.  The Company has both US & Canadian employees & everyone was sent Canadian forms.  Thanks!

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1 Best answer
New Member
Jun 6, 2019 6:04:43 AM

You do not need a Form 1099-B to report the sale of this stock.  All you need to do is enter the information from the Canadian Form T5000 as if it was a Form 1099-B. 

You'll need to use the "Stocks, Mutual Funds, Bonds, Other" interview, and you'll need to upgrade to the Premier version in order to have access to this interview.

When you start the interview you'll be asked if you received a 1099-B, or not.  Depending on your answer you'll be led to slightly different interviews but both interviews elicit the exact same information, information that gets reported on Form 8949:

  1. A description of what was sold.
  2. Date of sale.
  3. Proceeds of sale.
  4. Basis.
  5. Date of acquisition


3 Replies
New Member
Jun 6, 2019 6:04:43 AM

You do not need a Form 1099-B to report the sale of this stock.  All you need to do is enter the information from the Canadian Form T5000 as if it was a Form 1099-B. 

You'll need to use the "Stocks, Mutual Funds, Bonds, Other" interview, and you'll need to upgrade to the Premier version in order to have access to this interview.

When you start the interview you'll be asked if you received a 1099-B, or not.  Depending on your answer you'll be led to slightly different interviews but both interviews elicit the exact same information, information that gets reported on Form 8949:

  1. A description of what was sold.
  2. Date of sale.
  3. Proceeds of sale.
  4. Basis.
  5. Date of acquisition


New Member
Jun 6, 2019 6:04:45 AM

Great!  Thanks so much!  If I have already purchased Turbo Tax Deluxe (taxes are completely finished except for this one part), do I have to spend the money for a complete new version?  or can I upgrade for the difference?

New Member
Jun 6, 2019 6:04:46 AM

When you upgrade, you are only supposed to get charged the difference.