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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.6 _- x# v( A# d, P% c4 o
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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.
2 h c8 R+ N4 I2 x If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.; I" F/ I; S) Q) f* S `
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.* }/ ]' F4 v% i8 n+ D
Use the information from the slip to complete the description field.) c$ [2 s2 ?4 J. R
Enter the amount in Box 21 as your proceeds of disposition.
- X4 C. l+ F$ H 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.8 j% H2 e8 S4 k1 ~0 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.
: M( E; K( b0 [" X5 \ 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.% r8 z# e( j9 ]( x
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