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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.
+ r* F* I e* o% Z2 }* i% K If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
. z) C! K+ a7 g% }* n7 N Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
5 C& E; ^& R- c, l5 G2 m Use the information from the slip to complete the description field.
# n$ L. t9 t+ X: ^% ]2 i; M# P1 m Enter the amount in Box 21 as your proceeds of disposition.- L, u; |! ~- K. V9 s
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.
# u+ d8 e; \5 j* l3 X" O' F! 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.
# _7 C# [9 | q z! i3 N" @ 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.. D; n/ p6 ~; s1 y4 O9 m& ^/ k
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