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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.. [. p4 ?2 T I
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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.
- U$ G& T" J4 H$ r6 Z% J: r If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
3 N: s- U0 c: J- [' b6 R: l/ o; j, ^% x Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
8 r( _: ~7 x, i$ ~# C Use the information from the slip to complete the description field.
2 }' q& x4 K7 Z4 E/ J% h Enter the amount in Box 21 as your proceeds of disposition.
$ o; U2 V6 h3 h, u' j5 v4 U 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.& k1 o& u& g( b
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.
" l1 K! ^& s9 O: T! k* w 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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