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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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( l a9 ?% s/ x1 G& i 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.$ G% o0 b; z6 O0 C$ g: Z- Y
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.0 O" |4 |) E A9 y; s
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
5 ], O5 H, _4 Q+ F# m. a: w Use the information from the slip to complete the description field.6 H8 o$ U0 x2 O. l
Enter the amount in Box 21 as your proceeds of disposition.' i* |0 ^9 B9 J9 n) W
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.
8 F- ]% K1 M0 v( P 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.
5 N4 S! a# A+ T# q. Q2 c 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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