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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.( [9 N% i1 Y# c$ U/ V
m& K/ ]( }. G3 I 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.
+ U& w( E$ U }. o& X8 q: a* j If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.! _+ F2 K# ?* v1 Y4 M8 F4 [3 D& y
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
2 t3 |/ [+ Y1 i Use the information from the slip to complete the description field.
) a2 P' C& D0 K- {, ~ Enter the amount in Box 21 as your proceeds of disposition.
4 i5 X0 P- h: o: c. H 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.8 S: j8 {. N: N0 |2 _
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 x+ B* x, P1 o, C m1 W! m
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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