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How to create a Business Income T5008 slip

Martin T.

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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.


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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.
 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

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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



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