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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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# Z4 p8 G8 B: q+ o8 U9 I 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.
2 Z1 c- A" |7 L# x! g If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.1 n1 I) o' ?3 q5 p
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.& `# F* d9 v8 o2 b- F
Use the information from the slip to complete the description field.2 ?" y. }; V- J6 T
Enter the amount in Box 21 as your proceeds of disposition.$ _) B* e& |) g/ v# 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.
! H' h R, s0 D% h 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.$ s& w2 _9 T: a- y* f1 c9 X- T0 y
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.+ m7 q1 Y9 h# r4 s
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