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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.
! b+ u: }4 I3 g6 R9 f( q5 B7 w+ U) W4 g If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.& \/ m* k& |" u1 e7 v3 Z+ ?8 r
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu. u. H7 _1 {* } s' k+ _' P2 u; a
Use the information from the slip to complete the description field., N9 j- }: S4 d
Enter the amount in Box 21 as your proceeds of disposition.4 J2 c& K8 h, W* 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.
/ @# ~" X% K2 b- j" `; o" G1 n8 U 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.
4 P+ L8 g3 f$ \0 o# } 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 j8 H( W# _' l
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