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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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4 c8 ^- q3 W* \. ~ 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 Q, u1 B0 z+ x: [8 `0 X
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
0 X, w! q) ^: B" c$ G Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu., B- h ]% k2 c0 p( r
Use the information from the slip to complete the description field.
Q% F" |* u9 W7 [- z% n Enter the amount in Box 21 as your proceeds of disposition.( I! |: K3 a) q# t" W# w w- R
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 X- ^8 o) M7 R( `& R 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.
2 d- X, q* U) g2 M& E 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.4 v" C# W) \, M3 r5 X" N
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