How Important is income accuracy for the CRA?

Discussion in 'Taxes and Accounting' started by GotherL, Oct 13, 2016.

  1. GotherL

    GotherL

    I am having a hard time decoding my trading activity it's all mumbo jumbo. I can't tell if I am depositing or withdrawing out of my account. I figured I lost about $2000 with this broker after fees and interest. If I report $2000 and was off $100 what is gonna happen? Will they launch an investigation or is the amount to small?
     
    Last edited: Oct 13, 2016
  2. atrp2biz

    atrp2biz

    You can use your T5008 issued by the broker and just back out positions carried into the next calendar year. This should get you close to the right number for capital gains/losses. You can report some fees and interest on your line 221.