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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.
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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.7 X' T( T8 W0 J& _) b9 G
If the slip was for shares, mutual fund units, or something similar, report the gain or loss in the Capital Gains section.
6 `0 a1 a5 k$ E" | P8 { Select "Publicly traded shares, mutual fund units, deferral of eligible small business corporations shares, and other shares" from the drop-down menu.0 O7 W& m7 F& G' m3 i7 n/ v' c; X
Use the information from the slip to complete the description field.
5 Q7 g0 ^: z t0 @! ]1 c Enter the amount in Box 21 as your proceeds of disposition." y' V, D4 {/ o% r4 d+ v
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.
: `: V5 |9 k/ n, N' r! ]! G% c+ Z( W 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.
9 U* d5 ^; i8 O7 Q7 \& A, 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.$ @$ v- o! a' L5 c- n
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