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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.* Q' W. b! \4 n9 F9 K' I# ^. U/ O& @
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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. ?2 J, ?) t* k4 g- T7 k
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.4 ^& @% ^4 u# w7 g
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.# H( w5 n; k' G# b& Q
Use the information from the slip to complete the description field. ~9 ]% ?4 e; k2 O
Enter the amount in Box 21 as your proceeds of disposition.. F& ^1 m/ ~9 d5 j
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.& X8 l6 R% i% U3 P* T4 B o0 h
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.
, |5 u9 j- S. ^( l7 e0 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." L7 v# Y u1 ?4 O! }
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