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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.7 B' _( k4 o% \6 m! M8 C
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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.
+ Q3 ~4 m- [( _$ J If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
0 D; g0 Y- j9 s, u Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.' ?3 i$ G! w8 i! x7 _( k
Use the information from the slip to complete the description field.
2 ^+ {) X' X! N8 [2 s Enter the amount in Box 21 as your proceeds of disposition.
1 I; a& u. _. z1 x' F, b+ `- ?- M 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.
" ~) d& p& N+ p4 ?1 f/ W7 L M 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 V2 |, h% P1 [2 V3 q' @7 ]
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., n5 c' t/ P2 o
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