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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.5 Z5 D. `3 k5 s/ f1 T, s
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section., O: a3 d1 v$ H5 G. m1 \% \
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
6 a3 O+ ]& H/ }; N$ y, O) e Use the information from the slip to complete the description field.) l6 T: w8 \3 {, L6 G% j
Enter the amount in Box 21 as your proceeds of disposition.% S7 q4 m3 c, I4 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.
3 K- ] Q5 m0 g, H& \# O- 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.5 q: r+ E+ B. n, h" v8 P
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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