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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.4 k4 y0 p( t0 ]$ J8 X" n* e" p
2 t2 U6 g2 C4 J0 N 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.1 }% N- E% ?! g5 x b" n& e) N. u
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
; L( v& Z4 I' d Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
) N% E ?$ X8 R$ }- V Use the information from the slip to complete the description field.% C) p2 G- w$ n$ Y. F
Enter the amount in Box 21 as your proceeds of disposition.' }4 ?* j; c B, @
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.- k3 n& D0 C c4 w! G. w' u- b$ ^- w
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.$ y9 a: @4 N% h" f' z3 s! f
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.9 ~# D/ ]( L0 h- `
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