What Is a T5008 Slip?
The T5008 Statement of Securities Transactions reports the proceeds from selling investments in taxable accounts.
| Feature |
Details |
| Full name |
Statement of Securities Transactions |
| Issued by |
Brokerages, mutual fund companies |
| Reports |
Proceeds of disposition (sale amount) |
| Does NOT report |
Your actual capital gain |
| Threshold |
All transactions over $25 |
T5008 Box Guide
| Box |
Description |
Notes |
| 13 |
Year |
Tax year of the transaction |
| 14 |
Recipient type |
Individual, corporation, trust |
| 15 |
Account type |
Non-registered, TFSA, etc. |
| 16 |
Security description |
Name of stock, ETF, mutual fund |
| 17 |
CUSIP number |
Unique security identifier |
| 20 |
Proceeds of disposition |
Sale price × quantity |
| 21 |
Cost or book value |
Often blank or inaccurate |
The ACB Problem
Why Cost (Box 21) Is Often Wrong
| Issue |
Explanation |
| Blank |
Brokerage not required to provide |
| Only one purchase |
Doesn’t reflect average if you bought multiple times |
| Transfer-in |
Brokerage doesn’t know your original cost |
| Reinvested distributions |
Not included in cost basis |
You must calculate your own adjusted cost base (ACB).
What Affects Your ACB
| Action |
Effect on ACB |
| Buy shares |
Increases ACB |
| Sell shares |
Decreases ACB (proportionally) |
| Reinvested dividends |
Increases ACB |
| Return of capital |
Decreases ACB |
| Stock split |
No change to total ACB |
| Transfer between brokerages |
No change |
How to Calculate Capital Gains
Capital Gain = Proceeds (Box 20) − Adjusted Cost Base − Selling Costs
Example: Single Purchase and Sale
| Transaction |
Amount |
| Bought 100 shares at $50 |
$5,000 ACB |
| Commission on purchase |
+$10 |
| Total ACB |
$5,010 |
| Sold 100 shares at $75 |
$7,500 proceeds |
| Commission on sale |
-$10 |
| Net proceeds |
$7,490 |
| Capital gain |
$7,490 - $5,010 = $2,480 |
Example: Multiple Purchases (Average Cost)
| Date |
Transaction |
Shares |
Price |
Total |
| Jan |
Buy |
100 |
$40 |
$4,000 |
| Jun |
Buy |
50 |
$60 |
$3,000 |
| Total |
|
150 |
— |
$7,000 |
| ACB per share |
|
|
|
$46.67 |
When you sell 100 shares at $70:
- Proceeds: 100 × $70 = $7,000
- ACB used: 100 × $46.67 = $4,667
- Capital gain: $7,000 - $4,667 = $2,333
Remaining ACB: 50 shares × $46.67 = $2,333
Reporting T5008 on Schedule 3
What to Report
| Schedule 3 Column |
What to Enter |
| Description |
Security name |
| Proceeds |
Box 20 from T5008 |
| ACB |
Your calculated ACB |
| Outlays/expenses |
Selling commissions |
| Gain or loss |
Proceeds - ACB - expenses |
Taxable Capital Gain
| Amount |
Calculation |
| Total capital gain |
From Schedule 3 |
| Inclusion rate |
50% (first $250,000) |
| Taxable capital gain |
Report on Line 12700 |
For 2026, capital gains above $250,000 are included at 66.67%.
Common T5008 Situations
ETF Sale with DRIP Reinvestments
If you used a Dividend Reinvestment Plan (DRIP):
| Transaction |
ACB Impact |
| Initial purchase |
Add to ACB |
| Each DRIP reinvestment |
Add to ACB |
| Distribution (T3) |
Already taxed, add to ACB |
| Sale |
Use total ACB |
Track every DRIP purchase to avoid double taxation.
Mutual Fund Switch
| Scenario |
Tax Impact |
| Switch between funds |
Deemed disposition, triggers gain/loss |
| Same series, different currency |
Usually not a disposition |
Switching mutual funds typically triggers a capital gain or loss.
Transfer to Another Brokerage
| Type |
Tax Impact |
| In-kind transfer |
No disposition, no gain/loss |
| Sell and re-buy |
Capital gain/loss realized |
When you transfer “in-kind,” no T5008 is issued and no tax is owed.
Stock Split or Consolidation
| Event |
ACB Impact |
| 2-for-1 split |
Same total ACB, half per share |
| 10-for-1 consolidation |
Same total ACB, 10× per share |
Stock splits don’t change your total ACB, just the ACB per share.
Return of Capital Distributions
| Event |
Impact |
| ROC distribution |
Reduces ACB |
| ACB goes negative |
Triggers capital gain |
Track return of capital from T3 slips to adjust your ACB.
Superficial Loss Rules
You cannot claim a capital loss if you buy back the same security within 30 days before or after the sale.
| Rule |
Details |
| Denied loss |
Can’t claim immediately |
| ACB adjustment |
Lost amount added to new shares’ ACB |
| Period |
30 days before and after |
| Applies to |
You, spouse, corporation you control |
Example
| Date |
Transaction |
| Dec 1 |
Sell at $5,000 loss |
| Dec 15 |
Buy back same stock |
| Result |
Loss denied, added to new ACB |
Finding Your Proceeds
If Box 20 seems wrong:
- Check trade confirmations
- Review brokerage statements
- Calculate: shares sold × price per share
Tracking Your ACB
Use one of these methods:
- Spreadsheet: Track every buy, sell, and distribution
- ACB tracking software: AdjustedCostBase.ca, Wealthica
- CRA’s method: They do not track ACB for you
Multiple Brokerages
If you hold the same security at different brokerages:
| Rule |
You Must |
| Same security = one ACB |
Combine purchases across all accounts |
| Calculate average |
Total cost ÷ total shares |
| Each sale |
Uses the combined ACB |
T5008 vs Other Slips
| Slip |
Reports |
Triggers |
| T5008 |
Proceeds from sales |
You calculate gain |
| T5 |
Dividends, interest |
Investment income |
| T3 |
Trust distributions |
May include cap gains |
What If You Don’t Receive a T5008?
| Situation |
Action |
| Under $25 threshold |
Still report on Schedule 3 |
| Transfer to another brokerage |
No T5008 needed |
| In RRSP/TFSA |
No T5008 issued (registered) |
Always report all securities sales, even without a slip.
Key Deadlines
| Deadline |
Description |
| February 28 |
Brokerages issue T5008s |
| April 30 |
Tax filing deadline |
| 3 years back |
Carry-back capital losses |
| Indefinitely |
Carry-forward capital losses |
Tips for T5008 Filing
- Track ACB throughout the year, not just at tax time
- Keep trade confirmations for all purchases
- Don’t trust Box 21 — calculate your own ACB
- Watch for superficial losses near year-end
- Report losses even if you had no gains this year