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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.* [, F5 Z! j3 c' z( O; E6 I+ \/ g
; {$ Y# X9 B8 I$ P6 y3 }8 u/ @% j 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.
% ^& v' D$ i+ Q3 l3 f. K If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.2 x6 i& |: Z% z- h5 V
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
3 U3 m( M3 ^4 D+ Y& D, x Use the information from the slip to complete the description field. {# S6 m6 M- m2 R- ]6 F& H
Enter the amount in Box 21 as your proceeds of disposition.
+ C+ l' h0 }) U7 a, n 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.
6 F* C7 v7 @& H+ v9 u9 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.
4 I6 P' E9 X/ ?9 e' x 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.# k( f# z) @$ ?2 C2 K
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