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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.6 p; J! Y: D* G1 h! ^! R- m
% r- J0 w! \* A' S 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.% {, g c3 U% z( J L1 @$ V' O
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.0 i' R( Q4 d4 i
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
2 `. t7 N& O7 l Use the information from the slip to complete the description field.2 j0 T. ?: q% z6 Y, U8 m" ]$ B
Enter the amount in Box 21 as your proceeds of disposition.
8 n+ c( Q9 T! q6 G, m2 e$ V; z/ E 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.
5 }$ e/ n6 T1 U2 o% R 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.2 d2 i& H. C3 ~# V6 g0 X0 e
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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