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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.
# ?' ^3 p5 R# Q3 D; @3 y- v) m If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
3 d8 h, T% E( Y' Q8 i Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.3 Y, i2 d% C& x: E
Use the information from the slip to complete the description field., F1 Z& c7 _. f1 N _+ X
Enter the amount in Box 21 as your proceeds of disposition.( V# i- C3 V" z5 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.) C4 y' v. R) k3 V6 a; W ]! g" u
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.
, V; F" U$ I4 f2 p. P5 z. l+ ^: x 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.2 p* T5 Y2 b7 O5 ^8 H$ s- s$ U
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