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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.; y" L' L& r: r( P8 l- O h
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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.+ o5 l( K3 [' N
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
7 {4 |6 c9 ]0 ~# t9 r Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.8 j$ k( L; g C
Use the information from the slip to complete the description field.+ }6 R% x- } \% z: n' i
Enter the amount in Box 21 as your proceeds of disposition.& Z% W& P. K/ n* B9 _ u
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.
1 ]! s( G6 N$ I/ A6 K Q1 z$ ^4 } 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.2 |: T, k3 ]4 m" } [# E
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.3 [- a8 j j2 y1 V/ F, [0 }
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