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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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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.
. S0 W' M( Y1 Y If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.5 s9 A O. X2 J
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.0 Q' {" Y4 T* ^: J: C$ R
Use the information from the slip to complete the description field.# C% h$ Y7 g9 x+ D% v0 T1 s
Enter the amount in Box 21 as your proceeds of disposition.
0 B( x8 A' \5 j% q8 R 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.
3 D3 \: s3 P) m c1 i 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.% v" B9 B, ?" }; B3 x
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.) B, n( [3 N# d! d3 u
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