Manual entry T5008

[sharont]

My T5008 isn't in CRA to for auto-load, so I've got MANY lines of manual entry to do. For the field labelled 'Type of Income,' there's a dropdown to select either Capital Gains or Investment. How do I determine what to select for each transaction?

Also, there's this wording above the entry boxes: Note: Make sure you don't re-enter any of these amounts in the Capital Gains section.

[JoanneLH]

The “Type of income” is dependent on your trading activity.  

Where you are investing, meaning you tend to hold your investments for long periods of time, you would report dispositions as capital gains or losses.  When there are mulitple slips, you can summarize and enter either one T5008 slip or input the information on the Schedule 3 via the Capital Gains section. 

Where your trading activity is frequent, requiring much more time spent monitoring market movement, and you have experience and also have or you are studying to increase your knowledge of trading markets, you may be considered a day trader.  If this is the case, you would be considered to be operating as a business, and would report your activities on the T2125, Statement of Business or Professional Activities, instead of entering the T5008 slips, where you can also enter relevant expenses.