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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.. j3 I2 ?1 _7 n: i: e/ ~, e! h
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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." ]. ^( s% x& g8 p& ?
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
2 o! `4 V: Z- Q) [: f# W Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
, s) O, c" Z: x% f `% O) ~ Use the information from the slip to complete the description field.
/ j% B& u" C7 P2 ? Enter the amount in Box 21 as your proceeds of disposition.5 w. U) ?" O6 k1 {8 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.
+ f6 i2 w+ y Q3 R' ?- B 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.
) W( _2 M+ S5 o! s2 X$ V& T 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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