Martin T. Posted March 28 Report Share Posted March 28 Hi, I'm trying to add 3 T5008 tax slips as business income but I don't see the option anywhere. I can only create one type of T5008 slip and all the amounts I enter on the form ends up in the capital gain section. Any idea how to do it? Thanks in advance Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 28 Report Share Posted March 28 Hello Martin T. To create the T5008 forms / slips you will need our software DTFormax - to create slips such as T5008 / T5 / T4 : https://www.thomsonreuters.ca/en/dtprofessionalsuite/products/dtformmax.html Quote Link to comment Share on other sites More sharing options...
Martin T. Posted March 28 Author Report Share Posted March 28 Sorry for the confusion but I'm not looking to create tax slips. I already got 3 slips from Interactive Brokers for my personal trading and I would like the income on those slips to be considered as income instead of capital gains. Right now, everything goes to capital gains as default, and cannot find an option to switch it. Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 28 Report Share Posted March 28 Hello Martin T., No worries. Here is an example for a T5008 Strip Bonds: T5008 : Date of acquisition (dd-mm-yyyy) 01-01-2016 If the security had a maturity date, - select "Yes" if the settlement date was before the maturity date - else select "No" or leave blank. Yes Date of maturity (dd-mm-yyyy) 10-01-2022 Select the security type Stripped bonds Effective yield rate 3% Type code of securities15 BON Bonds Quantity of securities16 1 Identification of securities17 My_Strip Face amount19 $100,000.00 Cost or book value20 $95,000.00 Proceeds of disposition or settlement amount21 $99,000.00 Outlays and expenses related to the transaction >>T1 - Worksheet Investment Interest, other investment income, and income from foreign sources T5 - MyBankInterestJoint (50.00% share) 5.00 T5008 - My_Strip (50.00% share) 8,561 Quote Link to comment Share on other sites More sharing options...
Martin T. Posted March 29 Author Report Share Posted March 29 Hi, Thanks for your input but I'm still a bit confused. I did enter the information from the T5008 slip in Ufile but I cannot find the T1 sheet you mentioned. Also, from my observations, it seems that the security type field has an impact on how income will be treated. However, I only see 4 options: blank, other, treasury bills, and stripped bonds. Since I did trade futures and options, only blank and other would apply, and using these, all the gains go under Taxable capital gains. Thanks in advance Quote Link to comment Share on other sites More sharing options...
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