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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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# ^1 v0 W$ ?4 |5 S9 r6 ~; l 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.% q6 {6 u- Z& R: W2 N0 }
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
. }1 x' _# ^" M0 m- B9 N Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
! }& C% L- ^' _/ z, b9 @ Use the information from the slip to complete the description field.
8 o: [/ i1 V. g4 v Enter the amount in Box 21 as your proceeds of disposition.
( `2 i8 _ B. d 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., S* Z. U3 z9 n3 C! B
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% h. S3 c8 f, r( ~0 b
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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