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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.; K& `! Z( }/ D, j
% @0 n8 d1 p9 g% \ 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.
$ L6 z5 H7 e! c- j+ L If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
- O ?$ U2 [: U Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
, Q8 ]5 z5 n, N Use the information from the slip to complete the description field.2 q* s# m7 m* ?$ S
Enter the amount in Box 21 as your proceeds of disposition.
3 F* b ` e j8 w 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.
1 v: F. H+ v) A/ q: b6 @6 F" q 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.
( ]6 n: l" z- O+ G# ?6 @- P0 X 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., c7 Y1 A7 ?/ l( x6 q/ N
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