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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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6 O" k4 h6 O/ j" L* k 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. I: t- T3 C* h7 o
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
3 f' p2 N! }8 J2 f d5 L Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.5 U% ^1 g/ K% j+ i
Use the information from the slip to complete the description field.8 E+ p8 }" U# e* x, s
Enter the amount in Box 21 as your proceeds of disposition., {9 G- e! _( k! k+ I. G
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.
2 a# T9 w) s4 S o3 g 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.: H. T; Q8 P* Q! }; z8 @5 A
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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