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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.' J0 T7 q/ a2 f$ ]" S
9 h8 V2 F C0 v$ r$ ]; G 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.
' o- I6 r" m, ^' j2 e% m0 e If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
& L% s( X* k0 Q( u5 Z' G; k Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
8 Y& U8 `& E4 i9 f: _# c, { Q4 Q Use the information from the slip to complete the description field.
2 g* h. ?$ t3 X- C Enter the amount in Box 21 as your proceeds of disposition.6 L J, g, \0 Y8 W1 I3 Z/ 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.3 _) U% |$ f% U X; e- K9 R! m, f( v7 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.; {" f! u I( ~( [1 F% g
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.- [, ~: V- _; F, G
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