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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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7 n# W: {# l5 i$ z+ |9 L5 k @% A 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.$ S$ ?+ n7 Y7 W; z4 b/ _1 H
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.* T; ]. t+ |; B4 U. k
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.$ l( c3 B8 M' F7 g
Use the information from the slip to complete the description field.) f& l0 K; C1 d7 n& P
Enter the amount in Box 21 as your proceeds of disposition.
3 m5 \+ d* X9 S4 @6 \( _% e 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.
; a" P( B2 k1 g 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.' C- \3 {, A7 ?) D( o! V' I0 g$ B3 [) K
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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