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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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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.# c. M) F, l& [
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section." Y7 A9 Q, y6 P9 O" d
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
: w! y5 c5 t6 J" y4 Q0 @* o Use the information from the slip to complete the description field.
/ e5 x; N5 l& y: v5 w1 A* t5 H Enter the amount in Box 21 as your proceeds of disposition.7 W& \' }% _* D) S% c& O/ j
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.5 d; _$ p, N& c e& K$ |/ q
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.
" d$ r: q% _0 J, h8 i 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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