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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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- I* D: W" k2 }( M; K8 ]) A8 W, T ? 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./ u3 M, W. |0 H% ~; M! }: r' o
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
. M6 _$ [# r3 M6 ?1 |- A Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
( K4 E- s2 L. q7 k Use the information from the slip to complete the description field.
0 m; Q0 O, [% h Enter the amount in Box 21 as your proceeds of disposition.5 l3 h" d# a* k& z# \, `1 l' m0 n
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.' k T) r* a( e: i* C
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.
4 }$ t5 u$ k/ }8 ^5 j8 h% U 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.' S F1 y8 H8 l0 S- K+ O2 ^. f! d
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