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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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, O2 o( T! L5 X; 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.
2 i: [& h+ _' X If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.# V, b5 `* g0 @* m g. p9 g7 m7 n
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
$ x( {4 u8 u' P5 ^& n/ V: I h Use the information from the slip to complete the description field.
# M9 w5 @8 H; W, K/ C Enter the amount in Box 21 as your proceeds of disposition. s# D2 x& V- S$ 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.% P$ @; C+ F" }8 r( `
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.
; p* [* I0 [5 f' M6 ~, C 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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