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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./ G5 @. m- M0 Q
) o# p. M, ?* C6 t: R/ F; A3 U 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.. ]* l1 x0 n) L
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
1 n5 J$ s0 \) z9 } Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.; C- z' p4 K4 L. [$ a" l' E$ j
Use the information from the slip to complete the description field.
: @5 [0 W8 d% T2 S Enter the amount in Box 21 as your proceeds of disposition.
' @1 p/ V4 @$ A4 A% E& N 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.
- g4 _9 y9 P2 y8 G( |2 |& a 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.
; y' ]+ P: g) [8 j+ A 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.& e0 u0 Q9 d$ r4 O$ Y
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