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Level 2
posted Feb 10, 2022 8:22:13 PM

Hello, I'm a day trader, self-employed. How should I report my income (loss) and my expenses?

Should the income (loss) flow in form T5008 and the expenses in the self-employment section ? If so, is the type of income called ''Investment'' in the T5008 for day trading (business income)? And what would be the category of business for the self-employed section? I tried adding the loss I incurred in the self-employed section but negative numbers are not allowed. So i figured that I wasn't reporting it at the right place.... If the expenses aren't suppose to be disclosed in the self-employment section, where should they go?

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1 Replies
Level 1
May 2, 2022 12:06:47 PM

I have run into the same situation and still have not found an answer that applies.

As much as I have been able to gather, day trading is considered business activity so the T5008 should not be filled in but used to calculate business income(losses) from day trading on the T2125.


On the T2125, if I report income (sale of investments) and expenses (purchase of investments) it calculates the loss correctly. Problem - now a warning stating CRA wants me to register for GST since the Gross Income (sale of investments) exceeded $30,000.