MyACB is a modern ACB calculator with tax factor sync and CSV import. Sched3 takes it further — full broker integration, superficial-loss detection across affiliated accounts, T5008 line-by-line reconciliation, equity compensation, crypto, and a Schedule 3 package ready for your accountant. The recommended next step when you need more than a calculator.
MyACB is a well-designed ACB calculator that lets you upload broker CSVs, automatically syncs return-of-capital and reinvested distributions for your ETFs, and flags potential superficial losses for review. Its free tier works for simple portfolios, and premium adds unlimited tax factor syncs and Schedule 3 prep.
Sched3 starts from the same data (your broker files) but builds a full compliance workflow on top: T5008 slip reconciliation that flags when your broker reports the wrong cost, superficial-loss detection that accounts for affiliated persons and all accounts (not just flags for review), equity compensation tracking (RSUs, ESPPs, options with T4 benefit linking), crypto dispositions, corporate actions with guided ACB carry-through, and a what-if simulator that tells you the tax cost before you trade. The output is an accountant-ready package, not just a Schedule 3 spreadsheet.
If you hold a straightforward portfolio of Canadian ETFs and stocks, use one or two brokerages, and just need correct ACB numbers with ROC adjustments applied — MyACB handles that well. Its tax factor sync is a real time-saver for ETF investors who would otherwise have to look up T3 box 42 values manually.
You should consider staying if: your trades are simple buys and sells, you don't hold USD positions, you don't tax-loss sell near year-end, you don't have RSUs or crypto, and you're comfortable reviewing superficial-loss flags yourself rather than having the engine resolve them automatically.
| Capability | Sched3 (Active, $129/yr) | MyACB (Premium) |
|---|---|---|
| Pooled ACB (CRA weighted-average method) | ✓ | ✓ |
| Data entry | Broker CSV import, auto-mapped (6 brokers) | CSV import with column mapping wizard |
| Tax factor sync (ROC, phantom distributions) | ✓ Per-fund data, auto-applied every year | ✓ Automatic sync (premium) |
| Superficial-loss detection | ✓ Full CRA formula, affiliated accounts, safe rebuy date, auto-resolved | Flags potential losses for manual review |
| T5008 reconciliation (line-by-line) | ✓ Broker Box 20 matched against true ACB | ✗ |
| USD/CAD conversion | ✓ Bank of Canada rate per trade date, automatic | ✓ Supported |
| RSU / ESPP / options cost base | ✓ Vest-date FMV, T4 benefit linking | ✗ |
| Crypto (swaps as dispositions) | ✓ CAD-valued pooled ACB | ✗ |
| Corporate actions (splits, spin-offs, mergers) | ✓ Guided workflows, ACB carry-through | Splits & basic actions supported |
| "What if I sell?" tax simulator | ✓ See tax cost before you trade | ✗ |
| Output | Schedule 3 PDF + audit trail + accountant cover letter | Capital gains summary, tax year export |
| Multi-client accountant tools | ✓ Pro plan, 20 clients included (+$15/client) | ✗ |
| Free tier | ✓ Manual entry + 1 import (100 tx) + 18 calculators | ✓ Basic ACB, limited portfolios |
Both tools detect potential superficial losses. The difference is what happens next. MyACB flags sales where you repurchased within 30 days and shows them for review — you decide whether to apply the rule. Sched3 applies the full CRA superficial-loss formula automatically (including the min(S,P,B)/S partial-loss calculation), checks affiliated accounts you've linked, resolves the ACB adjustment on the repurchased shares, and tells you the next safe date to sell without triggering the rule again.
For investors who tax-loss sell deliberately — which is one of the highest-value strategies in a taxable account — that difference between "here's a flag" and "here's the resolved number with the safe rebuy date" is the difference between a tool and a compliance engine.
Every spring, your broker sends T5008 slips to the CRA. Box 20 often contains a cost figure that does not match your true ACB — especially if you've transferred shares between brokers, received return of capital, or hold the same security at multiple institutions. The CRA knows this and may reassess based on their records.
MyACB calculates your correct ACB but doesn't reconcile it against what the broker actually reported. Sched3 matches every T5008 line against your computed ACB, flags discrepancies, and explains the likely cause (transfer, missing ROC, cross-brokerage pooling). That reconciliation report is what keeps CRA notices from arriving in June.
Yes. You don't need to export from MyACB — Sched3 imports directly from your brokers' original CSV/activity files. Since your brokers are the source of truth, your history comes in complete and Sched3 re-applies all adjustments (ROC, FX, splits) from scratch. If the resulting ACB differs, that's usually a caught mistake worth knowing about.
No — MyACB's ACB math is correct, and its tax factor sync handles ROC and phantom distributions well. The gap is in what surrounds the ACB: T5008 reconciliation, fully-resolved superficial losses (not just flags), and asset classes beyond stocks/ETFs (crypto, RSUs). Sched3 adds those layers.
Sched3's free tier covers basic ACB with manual entry and one broker import (100 transactions) — comparable to MyACB's free tier. The Investor plan ($49/yr) adds unlimited import, superficial-loss detection, and BoC FX — a natural step up from MyACB premium at a similar price.
Yes. Sched3 maintains per-fund Canadian distribution data (return of capital, reinvested capital gains, phantom distributions) and applies them automatically each year — the same concept as MyACB's "Tax Factor Sync," plus the T3 box-by-box reconciliation that goes with it.