When you click the NEXT – CAPITAL GAINS or the CAPITAL GAINS button on the Tax Calculation Step Button Menu, Mclowd will display the capital gains worksheet (as shown below) to enable you to review the taxable capital gains for the year.
NOTE: If you had any prior year capital losses to be offset, these should have been entered in the Fund Setup process. If they were not entered, go back to the FUND SETUP option and select PRIOR YEAR LOSSES to enter these. They will then display at row G in the Capital Gains worksheet.
If the calculations on the worksheet appear accurate, please click SAVE in the bottom left hand corner of the page. Mclowd will Display a message confirming the data has been saved and will provide buttons to optionally EXPORT TO EXCEL, PRINT or DOWNLOAD AS PDF.
Click the BACK TO TAX HOME button to proceed to the next step, or click NEXT – SECTION B: INCOME at the bottom right of the screen.
The taxable capital gains figure will be saved against Line A. Net Capital Gains on Section B: Income page of the tax return (see screenshot below).