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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." }( A$ \& G! H: A1 X& Q8 x- Y5 D
- u* n" d" i+ l 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.2 q& I' }% A9 z% n
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section./ t0 y( @+ u) O# G; A
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.. {1 C+ u7 y9 B. ~7 @ Z8 j' T" p- M
Use the information from the slip to complete the description field.- ?+ k( d5 o) P# e; W
Enter the amount in Box 21 as your proceeds of disposition.
, {7 f4 X5 F1 _ 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.
, m% p$ K5 y- ^, q6 { 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.
* [$ x1 d7 p8 m5 b! \ W 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.0 @" j0 b8 O+ {$ L; h- R$ `
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