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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.% S. L) Q, |2 \3 C9 T3 F" Q0 R
! z& E& B. {7 y+ Z/ m- M" }% q 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.7 O( C1 D: j" s9 r) {* P7 N7 b3 h9 |% Z
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
6 `5 ]2 m- U; X Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
8 H& s' l5 K4 Y" J2 u( k% | Use the information from the slip to complete the description field.
! e& L7 }; N3 Y. K; h Enter the amount in Box 21 as your proceeds of disposition.. d) S0 m" T7 m: j/ X
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.. X0 N+ l* x- S* A
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.
8 y' z" S1 {3 \% M3 W0 {7 I/ U 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." n0 m8 {" l* J4 _4 r2 Z/ E: C
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