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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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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.0 f/ Z7 }1 E9 Z, ^1 G1 \
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.9 u5 ^" B" a4 W3 u* ?6 z. b
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.5 k! v* T: G* w ]7 p% A8 G
Use the information from the slip to complete the description field.
( W5 Y/ r4 {" q' j4 u Enter the amount in Box 21 as your proceeds of disposition.% X* }% s8 t; _6 n. \( X# K
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.
& ]5 Z. w2 ~! S; a5 \7 O( |" Y 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.
f, y- }0 [7 m7 N8 r+ I6 i 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.' `, C, B. P5 I
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