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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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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.
+ j4 v7 \3 Y- B# o5 g! r& q If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
; J) E8 `; ^; x Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
; z/ A3 l3 F9 _# b& Z3 w Use the information from the slip to complete the description field.+ u% y6 l8 d. b; Q4 g: q
Enter the amount in Box 21 as your proceeds of disposition.6 @# P7 S4 y' K4 w D0 B
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.1 k9 J& x& Q, w! u
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' B" ]( y) V; i# _9 o+ g$ h
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.9 }' r$ X! e0 J3 Q }
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