Why Your Questrade T5008 May Not Reflect Your True ACB
Questrade gives you a T5008 for every security you sold. The figure in Box 20 can look final, but the CRA says it may or may not reflect your adjusted cost base.
The Questrade T5008 and what Box 20 actually means
The CRA's own T5008 instructions state that Box 20 "may or may not reflect your adjusted cost base." That warning matters. Questrade reports an internal book-cost figure, but Canadian tax law requires your true ACB under pooled-cost rules.
- Questrade tracks book cost within a single account only.
- It does not apply the superficial loss rule.
- It does not account for positions held at other brokers or in separate non-registered accounts.
- It does not track your USD cash pool ACB or the annual $200 FX exemption.
What the Activity Report XLSX gives you
The Questrade Activity Report XLSX is the correct input for a Canadian ACB calculation because it includes every transaction event the engine needs: trades, dates, quantities, prices, commissions, dividends, interest, and corporate actions.
That raw activity is more useful than a slip summary because it lets the calculation rebuild your ACB chronologically from inception.
How to export from Questrade
The full screenshot guide is at activeacb.ca/guide-questrade. The short version:
- Log in to Questrade. Go to Reports, then Account Activity.
- Set the date range. Use your full trading history from inception.
- Export as XLSX. Choose the Activity Report export.
- Upload to ActiveACB. The engine parses the file and calculates your CRA figures.
T5008 vs Activity Report: coverage table
| Rule or workflow | T5008 Box 20 | Activity Report + ActiveACB |
|---|---|---|
| ACB pooling | Partial, account-level book value only | Full: rebuilt chronologically |
| Superficial loss | Not applied | Full: includes 61-day rule |
| Cross-account detection | No | Yes: across uploaded accounts |
| FX cash ACB | No | Yes: USD pool and $200 exemption |
| Options linking | No | Yes: exercise and assignment handling |
| Corporate actions | Partial | Full: processed from activity history |
Frequently asked questions
My T5008 shows a different gain or loss than ActiveACB. Which is right?
If your history includes repeat buys, superficial losses, multiple accounts, USD cash, or corporate actions, the ActiveACB figure is the one aligned to CRA ACB rules. The T5008 is a broker slip, not a full Canadian tax calculation.
Questrade shows my book value but it seems right. Why would it be wrong?
For simple single-account buy-and-hold positions, it may be close. The problem appears when you repurchase after a loss, hold the same security elsewhere, or have currency and corporate-action adjustments the slip does not model.
Do I need to upload my full history or just this year?
Upload your full history from inception whenever possible. ACB pooling depends on earlier purchases, and the selected tax year only affects which dispositions are reported, not how the pool is built.
I have accounts at both Questrade and IBKR. What do I upload?
Upload both. Use your Questrade Activity Report XLSX and your IBKR Flex Query XML in the same session so the engine can pool positions correctly and detect cross-account superficial losses.
What if I have corporate actions not reflected in the Activity Report?
Download the Raw Trades XLSX from your calculation history, correct the missing event, and re-upload. ActiveACB is designed to let you patch edge cases without rebuilding the whole workflow manually.