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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.$ W! b8 X% A. ^9 [
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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.
: B h; O- t, _; T+ ~; s/ j If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.# K) |+ {/ T5 D- [& `# M$ }
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.8 J, C( \ L$ t3 f+ a
Use the information from the slip to complete the description field.& W* E/ ~% _7 Z1 m& s
Enter the amount in Box 21 as your proceeds of disposition.6 F4 Z8 M Q" Y) g X3 [5 [- l
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.# [# u4 ~6 k! @1 W
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. U# P4 Y( Y1 Q [$ K
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.3 H+ g+ L5 \2 \0 \
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