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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.( n; C% q$ E! q. I) Z8 H' F2 ~. U
" H4 V1 _6 X# u 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% H! Y# F, T: |* H
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
/ u6 v0 d# O R7 ?% m$ z! u: h Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
( e! n! J7 c) _" p2 Q- S: M: Z Use the information from the slip to complete the description field.* Q/ {' ]( m1 Y4 Y/ f+ W$ h& t4 H
Enter the amount in Box 21 as your proceeds of disposition.
: @' T0 }- \" Y; o2 g9 o. A 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.: L9 e7 }3 L% X, r; z
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.
# a4 G5 L: e% U9 ~8 J 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 T5 b- C; |8 S# ~
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