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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.6 K# c h3 `5 X) ~2 u& v& j
: S( Q x* L5 ?( F" Q: H3 f 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., k; D& Q: h, Y! _
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
! A) [( r( q1 t+ a- U3 Q+ ]) z) R Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.# }2 s+ J% k& D, b$ p6 C- r
Use the information from the slip to complete the description field.) J; b$ k+ D, k5 ?7 p
Enter the amount in Box 21 as your proceeds of disposition.
! x) @; P. d' M3 f s1 O 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.+ }0 w2 |0 H- Y( a4 f, e. {
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: R7 ^3 l% u" g5 R6 X- n) Y- Z
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.$ @. v }. d9 `: t
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