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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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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.
% o8 u& e; p7 y0 I' ~; P If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
+ @8 t' I0 s9 j! \3 y1 L Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
9 @+ {2 U, a5 b; s/ A Use the information from the slip to complete the description field.- E! u6 \3 _4 a5 i6 \! o" w' t! A
Enter the amount in Box 21 as your proceeds of disposition.7 D& ~3 {% X; H8 I
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.
' M0 j/ q1 O" N! D! ?3 l- Q- ~& l, ^ 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.
+ G" `2 r9 j! [ 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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