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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.$ F0 x3 L. N& h
! s) F% \7 U2 B% w# z6 ` 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.+ {; V' {0 ]) j# E
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
0 A/ w9 _$ m) t/ c7 `. x2 w$ ? Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.$ ] q5 ~4 M" ?' t" \: h, e. g% i
Use the information from the slip to complete the description field.
) A/ T4 ?7 _+ @9 s% o Enter the amount in Box 21 as your proceeds of disposition.3 l0 {9 I5 b4 v2 v/ v
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.
+ m: D1 @" n9 [* ]9 e& e: | 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.6 l+ |0 \, @( q
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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