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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.! f: n* Y' |3 x: M. z
% _/ |1 h# P$ k* S0 Z& k 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.% J+ R% D2 I- L: r6 F6 c3 m
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.* z7 d/ I& W" k0 a
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.) r, S1 Q1 ` `$ S" |6 ?7 Q
Use the information from the slip to complete the description field.5 z+ _2 S0 k6 q% n
Enter the amount in Box 21 as your proceeds of disposition.
! ^6 j& V( n: t8 J 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.) e- K" q5 k4 h$ f/ J1 d
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.6 p$ h7 s y, h* @4 G/ ^2 t' 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.
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