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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.) w8 [5 ?: w/ ~5 t+ ^) v9 G: X
, a8 N4 u3 _7 l( p& B 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.* \ J+ c" J" }7 y+ z( |0 P+ B3 w
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
% p+ k2 o: Y( ?, B7 Y- f Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
, m. W" o; C1 M# ~ Use the information from the slip to complete the description field.; Z. C. V6 J; u1 ?* T2 _9 h: W3 U
Enter the amount in Box 21 as your proceeds of disposition.
! M, Q; I5 i3 Y3 O% Z" x4 N+ D 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/ M2 w+ f0 p
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.; `9 O. h- O! y, |0 C
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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