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We don't have an input for a T5008 slip because this type of slip can represent several different things. Here are some guidelines for how most people should report these amounts.
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7 o( O% e; C$ j6 K6 { For most SimpleTax users, a T5008 slip will represent "investment income" (e.g., a T-bill, mutual fund units, or shares). In some circumstances, a T5008 slip may represent business income. If you aren't sure, you should check with the CRA.
1 D: K/ c5 E f If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.6 X7 d. ?2 D# S4 g; b
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.8 {7 x% M$ ~' o; Z4 o b! O
Use the information from the slip to complete the description field.
* V+ C8 Q; a: s Enter the amount in Box 21 as your proceeds of disposition.
" }5 r* Q+ i( }8 v4 G" n! t& y Box 20 shows your adjusted cost base (ACB); however, there are several factors that impact your ACB, and frequently the issuer of the slip won't know your actual ACB and you may need to calculate it. Learn more.* P3 R9 J5 v5 ]9 Y: Z3 ?
If you earned interest income on the security, (e.g., the slip is for a T-bill), and you had a gain on the disposition of the security (i.e., box 21 is higher than box 20), you should report the difference as bond interest on line 121 in the Investment Income & Expenses section.
: d F0 N5 d6 o If you earned interest income, but the disposition resulted in a loss, you should report it in the Capital Gains section using the instructions above.
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