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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.4 f. y3 I" n( f" |' u
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
" I# l+ {- a. ]* X6 K Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.6 {, E- `8 M: S$ s# Y0 I- `
Use the information from the slip to complete the description field.. b- @, x9 v- H9 w
Enter the amount in Box 21 as your proceeds of disposition.; N0 L1 r: Z- I$ C/ {) }) g D* 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.5 H/ Q. n0 g; _# U4 s E1 H3 H
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.8 E& N: d, P. j- 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.
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