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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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7 [8 E" b3 }+ m! z+ o7 [) h$ J M 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.
( a W' P) A. V+ Q0 W2 h If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.1 X) f4 l) w0 n. k! W
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
& X# \1 d0 p. T, } Use the information from the slip to complete the description field.
0 K3 ~. M6 |& F/ |% {" A8 ` Enter the amount in Box 21 as your proceeds of disposition.* |7 v5 G& u$ e1 ^2 s+ I" 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.0 y' `6 S; a H5 `0 v: e P9 h- }9 @
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 B$ I _" n3 j0 M 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.3 |: u& m5 N6 G0 j# Y2 h
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