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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.; ~/ V; V7 X+ ]; ]; i
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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.( {% R5 I8 F# V, g7 n" o9 U
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.& ]7 ^+ J V( _* Z4 j) ?/ H) `
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
- G8 |2 B/ b5 d- ~ A Use the information from the slip to complete the description field.% J1 V& P. _% S+ y v* X% U& @
Enter the amount in Box 21 as your proceeds of disposition.
* V9 ]5 x! S F" e) ? 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.
$ [; y3 B2 A$ N. M( R2 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.
' U; S) G& H' U3 O; q/ z/ ]9 } 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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