T5008 - Statement of securities transactionsWe have modified the T5008 slip information entry to make it more compliant when downloading data.
In addition, it should be noted that the document that your broker sends you is a summary of the original T5008 slip. Also, this document gives information about all your transactions while the T5008 slip is for one transaction. You must pay close attention or ask your financial advisor for more information.
It should be noted that you can only report one transaction based on the "Type code of securities".
To enter your gains (or losses), please follow these steps:
1. On the "Left-side menu on the Interview tab", select the heading "Interest, investment income and carrying charges".
2. On the right-hand page, click on the plus sign icon "+" located to the right of the line "T5008 - Statement of securities transactions".
3. On the page titled "T5008 - Statement of securities transactions" you need to enter more information depending on the type of transactions you have made.
4. On the line "Recipient type", you must choose from the drop-down menu the option that suits you.
5. If you made the transaction in foreign currency, in the "Foreign currency" lines in the drop-down menu, choose the currency type. Usually on the T5008 slip, the amount is in Canadian dollars, but it may be in foreign currency if the transaction is in foreign currency.
6. On the "Date of settlement (dd-mm-yyyy)" line, you must enter the date by indicating the day, the month and the year when you received the settlement of the security.
7. On the line "Type code of securities" in the drop-down menu, you must choose the appropriate transaction type.
8. On the line "Cost or book value", enter the value at the time of acquisition of the property.
9. On the line "Proceeds of disposition or settlement amount", enter the value received at the sale of the property.
10. On the line "Outlays and expenses related to the transaction", enter the amount paid to your advisor.
It is very important to make the appropriate choice. If your T5008 slip reports both types of income, investments and capital gains, you will need to enter two T5008 slips, one for the investment and the other for the capital gain, and divide the amount in two according to the transactions you have made.
We recommend that you read the guide published by the CRA carefully.
Interest on bonds will be reported on line 12100 and capital gains on line 12700 of the federal return and Schedule 3 will be generated.
For Quebec residents, interest will be carried forward on line 130 and capital gains on line 139 of the Quebec return and Schedule G will be generated.
For more information, please consult guides T4091 and T4037 at the following links:
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4091.html
http://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4037.html
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