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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.
/ P6 Z) y4 J1 i! n If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
+ t' g8 m& E0 u* ~4 @* ? Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
+ D( |3 m2 u5 c, K! t! m z4 l- ?0 a( U Use the information from the slip to complete the description field.# k+ D8 ]* N. `1 d+ j
Enter the amount in Box 21 as your proceeds of disposition.
" B, _& v, L. a* ^+ R) @( W( 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.( P$ W9 S9 D4 C% w% V5 p
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.
+ a9 m F% U' W' U' ?# 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." n' w8 z5 s! g/ |, c4 d F
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