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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.; h6 |8 I) u- v* F3 o0 W
: F X! h1 O- O. d5 \ 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.
6 ?# \& y$ m( g! n If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
5 Z) i( q# t5 T% w3 d- u Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
8 n7 w- v2 E% r) d Use the information from the slip to complete the description field.; \0 w; D. w* e2 z9 k7 d% D
Enter the amount in Box 21 as your proceeds of disposition.$ m% ?. X4 O# k) f6 Q+ g. y3 a: m
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. _ D Z7 k+ t! d+ [! 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.
3 N' I( s8 F# A1 `. ]" ~ 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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