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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.5 `2 Q* G3 L9 r- U, ?! ?
0 r ?- E+ |6 k3 E 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.
5 X" y. W7 B, h5 a6 P If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
4 [! u) k! w. ^. h6 w7 ~ Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
2 @+ n. |8 C V+ D0 h Use the information from the slip to complete the description field.
! ?. M1 g1 n/ |6 [ Enter the amount in Box 21 as your proceeds of disposition.4 d% X& _& I, r% 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.9 j6 |9 S2 G$ i/ r5 I
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 {& t! c. G- R7 _
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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