April 12, 2015
For it's Personal Portfolio Services (let's leave the cost/benefit of this for another conversation!!), CIBC Wealth Management provides an annual "Client Tax Satement - Gains (Losses) from Sale of Securities". There is a long list of transactions and related particulars, but there is also a overall Gain(Loss).
In previous years, I was able to enter this the overall Gain into Schedule 3 as the subtotal "Gain (or loss)" for Section/Paragraph#3 ("Publicly traded shares, mutual funds, etc..."). I could do this because I was either completing the paper returns manually or using a spreadsheet-based return known as MyTax (MyTax lets me punch in the number).
I moved to StudioTax this year because MyTax 2014 is not available. In StudioTax's Schedule 3, the subtotal "Gain (or loss)" for Section/Paragraph#3 is a "computed field", and I cannot directly enter the overall Gain. Instead, the form requires all the particulars for each transaction, and the fields do not match those in the CIBC statement.
Is there a way to override the computed field so that I can directly enter the overall Gain from the CIBC statement? I do not consider it feasible for me to figure out what has to go into the form otherwise. In previous years, I've tried a number of times to delve into the technicalities of how to generate the required data from the CIBC data, and it is a neverending labyrinth. I suspect that forensic accountants might be able to figure it out with sumpreme effort, but that's hypothetical scenario is not helpful in this reality.
April 27, 2014
I use StudioTax and enter each stock trade particulars in section 3 of schedule 3. I suppose you could just enter a consolidated transaction putting "CIBC Wealth Management" under "Name of fund/corp and class of shares" and this would carry down to the computed field. I wouldn't recommend this though, as CRA probably does have a right to know the individual transactions.
April 6, 2013
That's actually what I do on Schedule 3. I just enter a few transactions with consolidated values for the proceeds, ACB, and outlays & expenses.
It is a waste of my time to enter in the individual transactions. I had a look at what's in the .TAX file that's uploaded to CRA. It just contains consolidated numbers.