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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.* x. ^* U. {: j* K, [3 v. `
% V$ E, @) x- y4 H( V 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.' f/ z2 V& {/ Y1 q
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
2 T8 _3 x( H+ M a Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu. U' Z1 z4 e8 P% q( C9 _
Use the information from the slip to complete the description field.
2 v B4 h( F8 ~7 x9 D% q2 B Enter the amount in Box 21 as your proceeds of disposition.) x+ R* a4 S* I8 g( I1 x' 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.
; {1 }: a" @* _' W5 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.8 \3 t3 c! z8 g
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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