How do I handle the sale of silver bullion that wa...

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New Member

How do I handle the sale of silver bullion that was not a capital gain or loss but I have a T slip showing income for it.

 
6 Replies
Moderator

How do I handle the sale of silver bullion that was not a capital gain or loss but I have a T slip showing income for it.

You will just need to enter your T5 slip. 

New Member

How do I handle the sale of silver bullion that was not a capital gain or loss but I have a T slip showing income for it.

This is where the problem lies.  When I add my T5 it shows that I had 8,000 of additional income.  However, I did not have additional income.  I actually lost some money on the silver but I don't want to bother doing a capital loss as I lost most of my paper work when I moved last year.  I just don't want to pay tax that I shouldn't be paying. 

Moderator

How do I handle the sale of silver bullion that was not a capital gain or loss but I have a T slip showing income for it.

Do you have a T5 or a T5008?

Moderator

How do I handle the sale of silver bullion that was not a capital gain or loss but I have a T slip showing income for it.

New Member

How do I handle the sale of silver bullion that was not a capital gain or loss but I have a T slip showing income for it.

T5008

Moderator

How do I handle the sale of silver bullion that was not a capital gain or loss but I have a T slip showing income for it.

Then you can reduce it by entering the cost or Adjusted Cost Base

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