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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 t' Y& @8 h* [- [
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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.
8 y3 A& J% P c9 ?5 x+ Q If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
9 G( ]4 Q `3 V7 K Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.+ a1 |! s5 c& X' o6 `% m
Use the information from the slip to complete the description field.: [6 @- P* v7 |& ^2 \; q
Enter the amount in Box 21 as your proceeds of disposition.7 [$ x( n7 E4 b& O2 p( s
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.
- I* P% _" k; F1 P( ~) |" N! o 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/ z6 R l9 P6 x- P+ [1 f
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.) s: q A& W; J4 N( i
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