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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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: U" h$ c4 A' ^; R' M 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." d, N2 y$ x7 J9 C4 I
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.. K! |3 b1 _: |0 R ?) n
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.* X9 q8 b8 u1 y& c
Use the information from the slip to complete the description field.- U, l! l' ?% ?2 [2 ^3 ~
Enter the amount in Box 21 as your proceeds of disposition.8 e; _: ]2 |, E$ k' @
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.9 y! p: b- s8 ^/ `, b: C
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. E$ V- O# c5 I: j' P
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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