T3 but no T5008 - why?

[waikoloagirl]

I received a T3, Stmt of Trust Income Allocations and Designations. It reports a Capital Gain in box 21 but I have not received a T5008. This is a non-registered mutual fund account from a financial institution. I looked at the T slips for importing from CRA and don't see a T5008. Why is that? Is it possible the T3 capital gain is net of ACB?

[TurboTaxKim · Accepted solution]

You do not always receive a T3 and a T5008 in regards to the same investment. There is different information on the slips, although it would appear they relate to the same investment.

• The T3 slip shows capital gains at the fund level based on your fund manager buying and selling. (or activity in account).

• The T5008 or December 31st account statement shows capital gains based on YOUR buys and sells. (usually only received when you sell or cash out).

Only if you are issued both slips, do you need to report them both.