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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.$ b2 \& a1 ^4 }$ _
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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.
+ ]+ Y. x" I7 ^6 W If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
, @3 t( l+ T& s3 B+ @' R5 J Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.4 n+ _) n6 T7 O1 ]( y/ F, t! q
Use the information from the slip to complete the description field.6 h5 B( o% U7 }% A/ e
Enter the amount in Box 21 as your proceeds of disposition.# K6 @# j$ R# o( J: w$ }$ k7 ]
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.
) L, L2 i4 ]9 z8 G+ X 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.
! j6 T7 P/ d5 r# H/ @6 b+ H 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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