How to Use Your T5008 Tax Slip

What is a T5008?

A T5008 (Statement of Securities Transactions) is a Canadian tax slip issued by financial institutions and brokerages to report the disposition of securities in non-registered accounts.

It is not a final tax calculation — it’s a summary to help you prepare your taxes.

Why are some boxes (like Box 20 & 21) blank?

Some T5008 slips may have Box 20 (Cost/Book Value) and Box 21 (Proceeds of Disposition) left blank.

This is normal in many cases.

👉 This is because you sold the position (shorting) before you purchased the position. In this case, we suggest you check your Trade Disposition Summary (TDS).

Adjusted Cost Base (ACB) (what you originally paid)
Final proceeds after all adjustments

Do I still need to report this on my taxes?

Yes. It is your responsibility to determine if and how you report on your taxes. If you are unsure we recommend you seek professional tax advice.

How do I complete this for my tax return? (Step-by-step)

Step 1: Find your total sales (Proceeds)

Look at your:

Trading history, or
Annual trading summary / disposition report

👉 This shows how much you sold your investments for

Step 2: Calculate your cost (ACB – Adjusted Cost Base)

This is how much you originally paid for the investment, including:

Purchase price
Commissions/fees
Adjustments (if applicable)

👉 If you bought the same stock multiple times, you’ll need to calculate the average cost

Step 3: Calculate your gain or loss

Use this simple formula:

Capital Gain (or Loss) = Proceeds – Cost (ACB)

If positive → gain
If negative → loss

Step 4: Report it on your tax return

You’ll report this on:

Schedule 3 – Capital Gains (Canada)

Only 50% of your capital gain is taxable.

Important Notes

The T5008 is a reference document only
Trade disposition summary (TDS) is a useful resource
It may not reflect your exact tax position
You are responsible for using your own records to calculate your totals

Where can I find the information I need?

You can use:

Your transaction history
Your monthly statements
Your annual trading summary / disposition report

Need help?

If you’re unsure how to calculate your cost or report your taxes:

👉 We recommend speaking with a tax advisor or accountant

Important: The T5008 is provided for informational purposes only and may not include or accurately reflect your adjusted cost base (ACB). Calculating capital gains or losses can be complex and may require adjustments for items such as foreign exchange, corporate actions, and tax rules. This information is general in nature and does not constitute tax advice. Please consult a qualified tax professional.

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