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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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T. I" F! v( S: o( f 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.
# Y1 G) f5 G! ` If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
( H) W; J% `+ q Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.( `8 \; ]6 U7 j% l& r
Use the information from the slip to complete the description field.+ O9 |' A! R# ` \
Enter the amount in Box 21 as your proceeds of disposition.& r* x: a" T% ]7 E" H) y% Z
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.
2 } H. W! F) \ 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.* N2 N" M; M% s: G$ 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.' N/ {9 @) |+ X8 o7 c
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