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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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/ o' C' M9 r: 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.
5 t( c% A4 D( @2 \# ^! E# L If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
0 Q) y1 ?6 \4 }4 `6 C' t Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
% H1 I0 W! n5 A Use the information from the slip to complete the description field.
^8 f! M2 [( C; r0 i1 E- B Enter the amount in Box 21 as your proceeds of disposition.
. B* t. k* b1 M7 ]9 M; i 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.
4 \/ B: o& v2 ~( J8 E4 d* p/ S; 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.
! z- ?, }2 x: F, a5 ^ 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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