Questrade Fixes Tax Slip Errors...Maybe

One thing that is definitely beyond the capability of the Questrade staff is the ability to issue correct tax slips, the first or second time.

Welcome to Questrade Loser !  Population you !

The big disappointment is that they can repeat the same mistakes year after year.  The reason I have left Questrade is the hassle of getting them to properly assign the distributions for Horizon's ETFs, particularly the covered call ETFs.  Also if you hold several of the Horizons enhanced equity income products (HEX, HEE, HEJ ...) the reports truncate the name of the fund so Questrade makes you struggle to figure out which is which - this is something you have to do in non-registered accounts to assign the return of capital for a fund, etc.

Questrade messed up covered call distributions last year and this year again, but the good news is that if you had any of these products at Questrade, they have recently revised tax slips - sorry if you submitted your tax return already!  You can check the report code box 21 to see if a tax slip is amended ("A") or original ("O").  Another problem with Questrade is that they will submit the original and amended slips to CRA but indicate that both of them are original - YES YOU GET TO PAY TAXES ON THE SAME DISTRIBUTIONS TWICE AS CAPITAL GAINS, AND DIVIDEND - OH WHAT FUN!  Can Questrade staff sort this out for you?  No way.

Stay away from Questrade!