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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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+ t+ t9 @$ @+ y$ l4 R 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.
, ^5 q H) S" O/ v* ` If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.2 q( r# g0 N- f5 _& A
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
9 g$ s+ @0 E7 K' K; ` Use the information from the slip to complete the description field.
% y$ R2 H o% U7 Z Enter the amount in Box 21 as your proceeds of disposition.
! H6 O8 X$ B$ i5 d7 `9 C1 H( t 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.
E- z/ o' A5 t7 T 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.( t% j3 h) y2 x6 I9 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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