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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.9 W9 y$ A i' [- T. j. ]8 b
( U/ O* O1 R* n+ Z" Z$ P0 l' G 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./ u- n, l1 t1 a; f/ u
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
3 I. d9 R* F; d/ T* _! a Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.' ^0 g4 @8 H5 g% r
Use the information from the slip to complete the description field.
+ v4 b8 A7 V( g# K3 w. U( k Enter the amount in Box 21 as your proceeds of disposition.
- \7 V/ T! @5 k$ h& F9 U4 H 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.
% O7 ?/ Z& h; I, J 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./ u; T6 d4 k" j7 l5 x( M* |8 J
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./ }' K. J1 g1 l
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