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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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# F5 e; X1 t2 O$ E; ?- ~ 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.
+ x' }0 c, {! P If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
1 K% V% P) V& \1 K% V Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
4 p/ J! v/ j2 I* H9 U Use the information from the slip to complete the description field.; Z! P1 |$ T0 a& s; n5 X; Q* h
Enter the amount in Box 21 as your proceeds of disposition.
% Z+ T& [- s3 D* g0 H 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. V# F9 R* b* j/ _7 s
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.7 g, @' |2 j$ b
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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