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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.% Y. K1 P; s4 f. Q6 R* n, t& Q
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
- V$ M2 [6 U/ J Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
7 q1 {: h: C7 S7 H: f: C0 Z Use the information from the slip to complete the description field.
2 A% e& c9 w5 Q& {' \$ A) Y Enter the amount in Box 21 as your proceeds of disposition.
2 }! v$ U8 z5 C) o' {/ O$ 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." h# P! N7 g, m. ^/ C( A# c
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.
, g* a- f/ b/ R 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.. h3 N$ J/ G! A' r d ^( R& o" K
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