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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.5 q' {8 g% I! r# |: @4 Z8 y$ z
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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.
- t( Z: c4 h7 S# w, } If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
9 \3 `. x- l( k Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.; t B. S0 b1 B9 _! L* }2 O8 m# N
Use the information from the slip to complete the description field.
! U' j) y6 G$ w1 Q+ y8 S; W Enter the amount in Box 21 as your proceeds of disposition. f" q: e4 c$ p( x$ N+ h) a: G
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.' ~ C! D2 F8 O
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.+ W$ `; k6 w/ k1 R' n* c) z
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 z+ I7 l5 c6 r2 g# x1 [
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