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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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5 k9 i: V4 A6 A7 _ 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.9 n) g) N# I- N* ^, T
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
5 ~6 z1 Z/ Y F1 z) _$ l: y Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.; u! V: o% _8 [) Z6 Z
Use the information from the slip to complete the description field.- m! d1 G! }/ s) r. K+ v
Enter the amount in Box 21 as your proceeds of disposition.
8 [5 X2 n# c4 l 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.
+ f) l; T0 W! F5 [' H+ X& H' I8 I. e 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.
! V/ h7 h4 W$ u6 A$ } 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.+ A: g4 U3 z) S( f! d
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