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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.* d! k( c( _# o$ a
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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.) k% ~; w2 o; C9 C7 O" e
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
. }! j# D: O( o/ P: _ Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
9 L- U7 M5 K5 A6 N' J1 A Use the information from the slip to complete the description field./ c( w3 g3 D+ w. F. {" @
Enter the amount in Box 21 as your proceeds of disposition.
7 r- b% c7 ~! q6 O6 T) t7 w# N( A 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.
# w$ {, k$ ]' C7 N# L5 U+ 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.
( d6 G" `) I' X! Y 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.6 F9 N7 s5 ^5 }; u7 t
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