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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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% p `; W8 Z8 B# }* G 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.
: [5 v6 L; _1 y" j. r, } If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.4 u9 L/ F5 b) h g0 R1 F
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
7 s& B F5 ~' R# d' y Use the information from the slip to complete the description field. M+ f8 t4 v- l: X; G8 f: |3 ]; A7 O
Enter the amount in Box 21 as your proceeds of disposition.
+ p5 _1 ` L6 w6 E( H Z 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.
( R! h* a# Q! ? 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.* B' }$ W3 X+ x; E& y4 ^' S
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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