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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.9 c& g: Q) a: h# _
* A/ l& Y% z# y* F) w% i( X Y 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.1 l. g7 w) t0 E3 E
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.. ]& T1 }: |4 `& u, t0 k5 h
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
" L6 c( f: k1 M- j Use the information from the slip to complete the description field.) [- }# ] U; o: D1 v7 ?
Enter the amount in Box 21 as your proceeds of disposition.
: l3 q2 C. [, {5 N 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.
6 X2 F Y( r4 j9 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.
+ |0 f; V0 z* R/ u1 s+ c. q" R3 m% D 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.+ r) e @: |! Y. K' D) M+ S
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