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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. S9 z9 ?5 l! K( w6 `
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
% @$ K9 }5 C4 {$ `+ y W Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
6 E- q9 O% n4 N |8 ~/ A' L Use the information from the slip to complete the description field.
$ W9 ^; T& E& l5 O4 g Enter the amount in Box 21 as your proceeds of disposition.1 o1 Q' v: a- R9 V
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.
# Z+ r+ R9 |+ T" b# v 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% j6 y7 y; C& N% 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.! I5 y1 A! p' L6 r
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