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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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: g; _! O. k+ E$ `" J 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.1 q' {4 F5 W2 T& S& q( k Y" O% H# G, n
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
& V, @- f. b1 Q7 B G$ Y Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.+ F7 _5 g( q4 i0 y1 [
Use the information from the slip to complete the description field.
3 ?; b- ]5 x, p6 W Enter the amount in Box 21 as your proceeds of disposition.
& a' n" T- V* l9 V v 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.: r0 f2 H/ c: 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.; h; M' q; U" m% y6 m* ?' `
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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