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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.4 ~% c1 y: E$ y" S
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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., b O- R: q. ]/ M9 c! I
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.4 U( h4 |) L; \# w+ t) E
Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.
4 |0 b: n2 Z* @0 L& f9 h3 a Use the information from the slip to complete the description field.: {9 L8 C! i9 W
Enter the amount in Box 21 as your proceeds of disposition.& a' x% k. k- Z; a2 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., I1 _5 ^; y6 S6 S
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.+ m P R" M- G/ z3 f6 k
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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